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USD/MXN continues to rise and approaches record highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The US dollar is rising against Latam currencies on Wednesday and particularly versus the Brazilian real and the Mexican peso. USD/MXN opened the day around 17.25 and during the American session jumped to the upside.

    It broke above 17.31 (last week highs) and peaked at 17.385, reaching the highest levels since December 14; on that day it hit an all-time high at 17.46.

    Since mid-December the US dollar has been rising in Mexico, despite the rate hike by Banxico, following Federal Reserve liftoff.

    USD/MXN technical levels

    To the upside, resistance level might lie at 17.40 (psychological level), 17.47 (record high) and 17.50. On the opposite direction support could be seen at 17.28 (Dec 14 low), 17.15 (Dec 29 low) and 17.09 (Dec 15 low / 20-DMA).
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