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
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The 2022 forecast for Fed Fund futures has surged to its highest on record (fully pricing in two 25bp rate hikes) and you can see it in the 2-10 Treasury yield spread this past session:
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.20% 🇨🇭CHF: 0.06% 🇪🇺EUR: 0.05% 🇬🇧GBP: -0.02% 🇨🇦CAD: -0.06% 🇦🇺AUD: -0.19% View the performance of all markets via
  • Wow, Australian 2-year yield jumps to highest since March 2020 in incredible surge (+62%) as #RBA withholds from defending the 2024 yield target today? (3Y up too) This is raising speculation the CB could be rethinking YCC Australian Dollar could not be bothered #AUD $AUDUSD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.56%, while traders in AUD/JPY are at opposite extremes with 74.09%. See the summary chart below and full details and charts on DailyFX:
  • The US Dollar might be stabilizing against ASEAN currencies as inflationary woes resurface ahead of GDP and PCE data. Amazon, Apple and Facebook earnings may also drive sentiment ahead. Get your market update from @ddubrovskyFX here:
  • RBA Deputy Governor Debelle says a little more inflation is welcome - BBG
  • - Managed isolation and quarantine (MIQ) reduced to 7 from 14 days effective November 14 - BBG
  • The Australian Dollar has had a period of strengthening against most currencies but there might be some challenges ahead. Will the Australia Dollar go higher? Find out here:
  • New Zealand's Hipkins says Christchurch at alert level 2 - BBG
  • 🇯🇵 Foreign Bond Investment (23/OCT) Actual: ¥-604.5B Previous: ¥1225.4B
USD/MXN Price: Trendline Resistance Holding -Mexican Peso Forecast

USD/MXN Price: Trendline Resistance Holding -Mexican Peso Forecast

Mahmoud Alkudsi, Analyst

USD/MXN – Eased Selling Pressure

  • US Dollar sellers may comeback
  • Bearish momentum remains intact

USD/MXN – Eased Selling Pressure

On Tuesday, USD/MXN tumbled to a near three-month low at 21.462 however, the price rallied after then close the weekly candlestick in the green with a 2.9% gain.

Last week, growing fears of a possible second wave of infections slowed down the US dollar selloff. This week, the U.S. Federal Reserve’s plan to kick off its corporate bond-buying program in an attempt to contain the economic damage from the coronavirus pandemic has provided the catalyst for the revival in risk appetite.

USD/MXN DAILY PRICE CHART (Sep 1, 2018 – June 17, 2020) Zoomed Out

USDMXN daily price chart 17-06-20 Zoomed out

USD/MXN DAILY PRICE CHART (Mar 19 – June 17, 2020) Zoomed In

USDMXN daily price chart 17-06-20 Zoomed in

On June 11, USD/MXN climbed to the current trading zone 22.041 – 23.315 however, the price rebounded and remained below the downtrend line originated from the April 24 high at 25.291 indicating that bulls were not ready to take charge of the price action.

A close below the low end of the zone signals that bears may re-attempt testing 20.962 then any further close below that level could send USDMXN even lower towards 20.260.

On the flip-side, if the price overtakes the aforementioned downtrend line then it could push towards the high end of the current trading zone. Any further close above that level may extend the rally towards 24.437.

USD/MXN four hour PRICE CHART (May 27 – June 17, 2020)

USDMXN four hour price chart 17-06-20

On June 9, USD/MXN broke above the downtrend line originated from the May 27 high at 22.489, and generated a bullish signal. However, the price has failed today to rally above the downtrend line originated from the Jun 12 high at 22.948 highlighting bull’s weakness. This could send the pair for a test of the uptrend line originated from the June 10 low at 21.679.

Therefore, a break below 21.723 could send USDMXN towards 21,088 on the other hand, any break above 22.754 may trigger a rally towards 23.134.Nonetheless, the daily support and resistance marked on the four-hour chart should be kept in focus.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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