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22 Jan 2015
USD/MXN muted post-CPI
FXStreet (Edinburgh) - The Mexican peso is now giving away some gains vs. the greenback, sending USD/MXN to the 14.2000 area.
USD/MXN supported at 14.6600
The pair managed to pick up pace following the drop to lows around 14.6600 earlier on, after 1st half-month CPI in the Mexican economy contracted 0.19%, missing the median. In the US, Initial Claims decreased by 10K to 307K in the week ended on January 16th , just above the 300K forecasted. Next of relevance in the pair would be tomorrow’s Markit PMI and Existing Home Sales.
USD/MXN levels to consider
As of writing the pair is losing 0.46% at 14.6940 and a break below 14.5780 (low Jan.16) would aim for 14.3770 (low Dec.17 2014) and then 14.2292 (50-d MA). On the flip side, the initial hurdle aligns at 14.8416 (Banxico Intervention level) followed by 14.9831 (high Jan.5) and finally 14.9940 (2015 high Jan.6).
USD/MXN supported at 14.6600
The pair managed to pick up pace following the drop to lows around 14.6600 earlier on, after 1st half-month CPI in the Mexican economy contracted 0.19%, missing the median. In the US, Initial Claims decreased by 10K to 307K in the week ended on January 16th , just above the 300K forecasted. Next of relevance in the pair would be tomorrow’s Markit PMI and Existing Home Sales.
USD/MXN levels to consider
As of writing the pair is losing 0.46% at 14.6940 and a break below 14.5780 (low Jan.16) would aim for 14.3770 (low Dec.17 2014) and then 14.2292 (50-d MA). On the flip side, the initial hurdle aligns at 14.8416 (Banxico Intervention level) followed by 14.9831 (high Jan.5) and finally 14.9940 (2015 high Jan.6).