12 Nov 2018
USD/MXN Technical Analysis: Volatility set to remain elevated as chart points to 20.50
- Mexican peso underperformed following negative impact on confidence and ahead of Bank of Mexico meeting on Thursday.
- Technical indicators in USD/MXN still point to the upside, but a consolidation above 20.40 is needed to clear the way to more gains. Resistance levels on top are seen at 20.50 and 20.65.
- Failure to break above 20.40 in the coming session would weaken the bullish perspective, favoring a correction. Short-term support levels are seen at 20.10, 19.90 and 19.70. As long as above 19.70, the chart will favor the upside.
USD/MXN 4-hour charts
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Overview:
Last Price: 20.3304
Daily change: 1.06%
Daily Open: 20.1179
Trends:
Daily SMA20: 19.6259
Daily SMA50: 19.2402
Daily SMA100: 19.1298
Daily SMA200: 19.0986
Levels:
Daily High: 20.425
Daily Low: 20.0513
Weekly High: 20.425
Weekly Low: 19.5758
Monthly High: 20.484
Monthly Low: 18.5
Daily Fibonacci 38.2%: 20.1941
Daily Fibonacci 61.8%: 20.2822
Daily Pivot Point S1: 19.9711
Daily Pivot Point S2: 19.8244
Daily Pivot Point S3: 19.5974
Daily Pivot Point R1: 20.3448
Daily Pivot Point R2: 20.5718
Daily Pivot Point R3: 20.7185