USD/MXN erases week’s gains — Oil prices on course for recovery

FXStreet — The Mexican Peso is rising on Wednesday against the US Dollar. Price supportive, the strong price correction in Oil prices. The barrel of the US variety of West Texas Intermediate jumped after the release of US crude inventories on the brand of 47.00 dollars.

The currency pair USD/MXN climbed yesterday to the highest level in two weeks, 19.25 — and then let go of the bullish Momentum. The area of the high-points limited the top, as it has done already in April. Today, there was a correction on the bottom, which had accelerated in the last few hours.

Recently, the currency pair reached the lowest level since Monday, 18,93. Most recently it was listed on 18,96, and just below the closing price from Friday.

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Technical Levels

The next Resistances lie at 19,25, 19,43 (Deep 06. / 07. March) 19,55 (Deep 10 March). Supports on the other hand, 18,90 (week low) and 18,65 (Deep 02. To find may).

** FXStreet News Editorial, FXStreet**

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