USD/MXN Price Analysis: Price rises above key SMA, could extend to 20.25

Mexican peso falls for the second day in a row versus the US dollar.
USD/MXN turns bullish in the short-term, next resistance at 20.25.

Matías Salord FXStreet

The USD/MXN is rising again on Thursday, and it climbed to 20.07, the highest level in a week. It is hovering near the top with the bullish tone intact. More gains seem likely while above the 20.05 area.

The next strong resistance is seen around 20.25: horizontal support and the 100-day moving average. A consolidation above should clear the way to more gains, targeting the 20.50 zone.

A slide back under 20.00 would ease the dollar’s momentum, with USD/MXN back at the previous range between 19.75 and 19.95.

The RSI is turning to the upside, rising above 50, suggesting that more gains are likely. Key SMAs are flat now, with the 55-day offering support at 20.00 and the 100-day resistance around 20.25.

USD/MXN daily chart

USD/MXN

Overview
Today last price	20.024
Today Daily Change	0.0809
Today Daily Change %	0.41
Today daily open	19.9431

Trends
Daily SMA20	20.037
Daily SMA50	19.998
Daily SMA100	20.2335
Daily SMA200	20.3507

Levels
Previous Daily High	19.968
Previous Daily Low	19.7825
Previous Weekly High	20.7138
Previous Weekly Low	19.7056
Previous Monthly High	20.7488
Previous Monthly Low	19.5983
Daily Fibonacci 38.2%	19.8971
Daily Fibonacci 61.8%	19.8534
Daily Pivot Point S1	19.8277
Daily Pivot Point S2	19.7124
Daily Pivot Point S3	19.6422
Daily Pivot Point R1	20.0132
Daily Pivot Point R2	20.0834
Daily Pivot Point R3	20.1987

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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