29 Jan 2015
USD/MXN correcting lower after Banxico
FXStreet (Edinburgh) - The Mexican peso reclaimed some ground lost to the US dollar following the Banxico meeting, with USD/MXN testing the low-14.7500s.
USD/MXN back from 14.90
The pair is meandering the vicinity of 14.80 after the Banxico (Mexico central bank) left the refi rate unchanged at 3.0% in today’s meeting, matching the broader consensus. The pair climbed to test fresh peaks around the 14.90 region earlier on, levels last traded in March 2009, although the up-move lost vigour and triggered the current leg lower to the sub-14.80 zone.
USD/MXN levels to consider
As of writing the pair is up 0.34% at 14.7894 and a surpass of 14.8450 (high Jan.29) would open the door to 14.9940 (high Jan.6) and finally 15.0000 (psychological level). On the flip side, the immediate support lines up at 14.7720 (low Jan.29) ahead of 14.6200 (low Jan.28) and then 14.5510 (low Jan.27).
USD/MXN back from 14.90
The pair is meandering the vicinity of 14.80 after the Banxico (Mexico central bank) left the refi rate unchanged at 3.0% in today’s meeting, matching the broader consensus. The pair climbed to test fresh peaks around the 14.90 region earlier on, levels last traded in March 2009, although the up-move lost vigour and triggered the current leg lower to the sub-14.80 zone.
USD/MXN levels to consider
As of writing the pair is up 0.34% at 14.7894 and a surpass of 14.8450 (high Jan.29) would open the door to 14.9940 (high Jan.6) and finally 15.0000 (psychological level). On the flip side, the immediate support lines up at 14.7720 (low Jan.29) ahead of 14.6200 (low Jan.28) and then 14.5510 (low Jan.27).