FXStreet (Córdoba) – The mexican peso is falling for the fourth trading day a row against the US dollar. On Wednesday USD/MXN rose to 15.397, reaching the highest level in two weeks but then pulled back trimming gains.
Currently trades at 15.345, up 0.30% for the day. Despite the decline, the peso so far is the best performer among Latin American currencies.
USD/MXN outlook
The pair continues to move with an upside bias in the short term, currently facing resistance around the 15.400, area; above there the next levels to consider lies at 15.490 (Apr 21 high) and 15.565.
Below 15.300, greenback could lose momentum, but under 15.200 the short term outlook could start favoring the downside.
(Market News Provided by FXstreet)