FXStreet – The Mexican Peso fell against the USD on Monday easily. The USD/MXN is in the direction of 19,20 increased and was the highest level since the 27. April reached. Currently, the trade with 80% held one-day gain at 19.15.
In the last two days, the price has increased by more than 2%, as the USD gained, and the Mexican Peso pulls back on a broad Front, while Oil prices fell.
The Pair is formed to be High at 19,19, and then it pulled back slightly. Around the 19,20 a short-term key resistance is located. A consolidation above this level opened, however, the door for more gains. The next resistance is 19,40/45.
The Pair should fall under 19,10, so the dynamics might increase versus the Mexican Peso. The next support is 18,90
The current prospects for a consolidation with the possibility of an upward movement. The Pair rallied in the end, after the it from 22,00 (January) to a decline to 18,45 (18. April).
Tomorrow the consumer price index in Mexico for the month of April. It is expected that Inflation will rise to 5.75%, the highest level since may 2009. In the next week, the Central Bank will keep Mexico in your session.
** FXStreet News Editorial, FXStreet**