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28 Aug 2015
USD/MXN retreats from record highs to 1-week lows
FXStreet (Córdoba) - The Mexican peso and most of Latin-American currencies are rising against the US Dollar amid risk appetite. USD/MXN traded all day below 17.00 and recently bottomed at 16.69, reaching the lowest level in a week.
On Wednesday the pair reached an all-time high at 17.30 and then pulled back. The volatility activated new USD auctions from the Bank of Mexico. From the highs it dropped 3.20%.
From 16.70 rebounded and near the end of the week it was trading at 16.76, on its way toward the first weekly loss after rising during the previous three.
USD/MXN technical levels
To the downside support levels might lie at 16.70 (daily low), 16.63 and 16.45. On the opposite direction, resistance could be located at 16.85, 16.94 (daily high) and 17.00.
On Wednesday the pair reached an all-time high at 17.30 and then pulled back. The volatility activated new USD auctions from the Bank of Mexico. From the highs it dropped 3.20%.
From 16.70 rebounded and near the end of the week it was trading at 16.76, on its way toward the first weekly loss after rising during the previous three.
USD/MXN technical levels
To the downside support levels might lie at 16.70 (daily low), 16.63 and 16.45. On the opposite direction, resistance could be located at 16.85, 16.94 (daily high) and 17.00.