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11 Jun 2013
USD/MXN extends the downside below 13.000
FXstreet.com (Barcelona) - The Mexican peso is appreciating against the greenback on Tuesday, dragging USD/MXN to sub 13.0000 levels although trading in multi-months highs.
Positive data dragged USD/MXN lower
Industrial Output in the Aztec economy expanded at an annual pace of 3.3% in April, surpassing forecasts and leaving behind March’s 4.9% contraction, bolstering the MXN strength. Recall that the recent USD rally pushed the pair above 13.0000 the figure, levels last seen in November 2012.
USD/MXN levels to watch
As of writing, the pair is down 0.17% at 12.8974 facing the next support at 12.8062 (MA10d) ahead of 12.6101 (low May 30). On the upside, a breakout of 13.1061 (high Jun.11) would bring 13.1300 (high Nov.19 2012).
Positive data dragged USD/MXN lower
Industrial Output in the Aztec economy expanded at an annual pace of 3.3% in April, surpassing forecasts and leaving behind March’s 4.9% contraction, bolstering the MXN strength. Recall that the recent USD rally pushed the pair above 13.0000 the figure, levels last seen in November 2012.
USD/MXN levels to watch
As of writing, the pair is down 0.17% at 12.8974 facing the next support at 12.8062 (MA10d) ahead of 12.6101 (low May 30). On the upside, a breakout of 13.1061 (high Jun.11) would bring 13.1300 (high Nov.19 2012).