USD/MXN Price Analysis: Mexican peso continues to test the 19.80 barrier

USD/MXN with bearish bias while below 19.95.
Consolidation under 19.80 points to more weakness ahead.
Immediate resistance at 19.95 followed by 20.00; upside limited under 20.15.

Matías Salord FXStreet

The USD/MXN is rising on Monday but it moved off highs and pulled back. The pair traded momentarily above 19.90 and then dropped below 19.85, and is it looking again at the key support around 19.80.

The critical support area around 19.80 has held fine so far and triggered a rebound, but it is still exposed and being challenged. A daily close below would reinforce the bearish bias, exposing the 19.50 key level (intermediate support at 19.70).

The 19.95 has become the immediate resistance, followed by 20.00, an area that also contains the 20 and 55-day Simple Moving Average. A break higher would expose the 20.15/20.20 key resistance. A break higher would suggest more gains ahead, targeting 20.45.

USD/MXN daily chart

USD/MXN

Overview
Today last price	19.8545
Today Daily Change	0.0599
Today Daily Change %	0.30
Today daily open	19.7946

Trends
Daily SMA20	19.9907
Daily SMA50	20.0285
Daily SMA100	20.1789
Daily SMA200	20.2152

Levels
Previous Daily High	19.8917
Previous Daily Low	19.785
Previous Weekly High	20.0384
Previous Weekly Low	19.785
Previous Monthly High	20.5794
Previous Monthly Low	19.7533
Daily Fibonacci 38.2%	19.8257
Daily Fibonacci 61.8%	19.8509
Daily Pivot Point S1	19.7558
Daily Pivot Point S2	19.717
Daily Pivot Point S3	19.6491
Daily Pivot Point R1	19.8625
Daily Pivot Point R2	19.9304
Daily Pivot Point R3	19.9692

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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