Mexican Peso (MXN) climbs against the US Dollar (USD), piercing for a moment the 18.
Mexican Peso hovers at around 18.00, down 0.42 on upbeat market sentiment. Hurricane Otis's impact on the southern state of Guerrero could strain Mexico's finances. USD/MXN traders await the US Federal Reserve monetary policy meeting, expecting unchanged rates. 00 figure, as the USD/MXN dived to a daily low of 17.96, but at the time of writing hovers at around the 18.00 figure, down 0.42%.
00 figure, which puts the 20-day Simple Moving Average at 18.10 at risk of being decisively broken to the downside. A daily close below the latter could pave the way for a test of the 200-day SMA at 17.72. A breach of the latter and the next support would be the 50-day SMA at 17.55. On the flip side, if the exotic pair remains above the 20-day SMA, the next resistance will emerge at the October 26 high at 18.42 before challenging last week’s high at 18.46, ahead of challenging the 18.50 figure.
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