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6 May 2013
Forex: USD/MXN in highs around 12.1200
FXstreet.com (Barcelona) - The Mexican peso is markedly lower against the greenback on Monday, despite the Consumer Confidence in the Aztec economy improved to 95.7 in April from 95.4 in the previous month. A favourable context for the risk aversion is eclipsing the positive domestic data and boosting the demand for the buck.
As of writing, the cross is advancing 0.34% at 12.1111 with the next resistance at 12.2495 (high May 1) followed by 12.2969 (high Apr.24) and finally 12.3750 (high Apr.23).
On the flip side, a breakdown of 12.0701 (low May 1) would clear the way to 12.0625 (low Apr.15) and then 12.0510 (low May 3).
As of writing, the cross is advancing 0.34% at 12.1111 with the next resistance at 12.2495 (high May 1) followed by 12.2969 (high Apr.24) and finally 12.3750 (high Apr.23).
On the flip side, a breakdown of 12.0701 (low May 1) would clear the way to 12.0625 (low Apr.15) and then 12.0510 (low May 3).