News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
USD/MXN Continues to Slide Lower as Supportive Moving Averages Break

USD/MXN Continues to Slide Lower as Supportive Moving Averages Break

Nick Cawley, Strategist

US Dollar vs. Mexican Peso (USD/MXN) Price, Analysis and Chart:

  • Mexican Peso pushing back against the US dollar.
  • 20- and 50-day moving averages broken this week.

USD/MXN – Short-Term Bearish Sequence Developing

USD/MXN is currently trapped between a range of technical indicators and further losses may be likely if current price action continues to play out. The supportive short-term uptrend off the June low has now been broken and opened below, while the pair have also dropped through both the 20- and 50-day moving averages, adding the bearish sentiment. In addition, this week the pair have made an unbroken series of lower highs, adding to the prevailing negative sentiment. Below, there are a cluster of recent lows that may provide short-term support before the 50% Fibonacci retracement level of 22.153 comes into play. Below here, 21.86 becomes the next area of interest.

To regain a bullish bias, USD/MXN needs to reclaim both the moving averages, open and consolidate above the short-term uptrend and take out Monday’s high at 23.24.

If you are interested in technical analysis, please see our updated Education Centre for a comprehensive range of indicators and analytical articles.

USD/MXN Daily Price Chart (December 2019 – July 3, 2020)

USD/MXN Continues to Slide Lower as Supportive Moving Averages Break

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on USD/MXN – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.