USD/MXN stumbles below $19.00 on risk-on impulse and soft US Dollar USDMXN Currencies EmergingMarkets Fed
threshold. Nevertheless, the 100-day Exponential Moving Average at 18.9929 capped the USD/MXN pair gains. The USD/MXN is trading at 18.8390at the time of writing.Investors shrugged off fears of the banking crisis after UBS’s takeover of Credit Suisse. Global central banks welcomed the news, though sentiment would remain fragile ahead of the Federal Reserve’s interest rate decision this week.
That has weighed in the greenback, as shown by the US dollar Index , falling 0.48%, at 103.371. US Treasury bond yields continue to collapse, a headwind for the USD/MXN The USD/MXN hit a daily high at 19.2327, shy of testing the 200-day EMA at 19.3888. Since then, the USD/MXN erased those gains and dropped beneath the 100-day EMA, though it found support at 18.8047. For a bearish continuation, the USD/MXN must reclaim the 50-day ENA at 18.6822 to test the 20-day EMA at 18.5487. Otherwise, if the USD/MXN regains the 100-day EMA at 18.99, the pair would be poised to finish the day above $19.00.
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