16 Jan 2015
USD/MXN capped b 14.7000
FXStreet (Edinburgh) - The Mexican peso is now gathering traction vs. the US dollar, pushing USD/MXN to return to the 14.6000 area after hitting highs near 14.7000.
USD/MXN down after data
The pair reverted the initial negative start, managing to bounce off intraday troughs around 14.4300 to the 14.7000 neighbourhood, although lacked conviction and legs to climb further. Data wise in Mexico, the jobless rate ticked lower to 3.76% during December, surpassing expectations at 4%. In the US economy in the meantime, consumer prices posted their biggest decline in six years.
USD/MXN levels to consider
As of writing the par is down 0.24% at 14.6244 and a breakdown of 14.3770 (low Dec.17 2014) would aim for 14.2292 (50-d MA) and finally 14.0000 (psychological mark). On the flip side, the next resistance lies at 14.7060 (high Jan.14) ahead of 14.7620 (Tenkan Sen) and then 14.9940 (high Jan.6).
USD/MXN down after data
The pair reverted the initial negative start, managing to bounce off intraday troughs around 14.4300 to the 14.7000 neighbourhood, although lacked conviction and legs to climb further. Data wise in Mexico, the jobless rate ticked lower to 3.76% during December, surpassing expectations at 4%. In the US economy in the meantime, consumer prices posted their biggest decline in six years.
USD/MXN levels to consider
As of writing the par is down 0.24% at 14.6244 and a breakdown of 14.3770 (low Dec.17 2014) would aim for 14.2292 (50-d MA) and finally 14.0000 (psychological mark). On the flip side, the next resistance lies at 14.7060 (high Jan.14) ahead of 14.7620 (Tenkan Sen) and then 14.9940 (high Jan.6).