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22 May 2013
USD/MXN bounces off lows on Bernanke
FXstreet.com (Barcelona) - The Mexican peso is trimming early gains against the greenback on Wednesday, pushing the cross from lows around 12.2200 to the current region of 12.3100.
Data wise, retail sales in the Aztec economy rose 0.3% on a monthly basis during March, contracting 2.4% over the last twelve months. The results exceeded February’s prints at -0.1% and -2.6%, respectively.
As of writing, the cross is losing 0.16% at 12.3164 and a breakout of 12.3926 (high May 21) would expose 12.4633 (MA100d) and then 12.6440 (weekly high Mar.15).
On the flip side, support levels line up at 12.2356 (MA50d) followed by 12.1685 (MA21d) and finally 11.9358 (low May 9).
Data wise, retail sales in the Aztec economy rose 0.3% on a monthly basis during March, contracting 2.4% over the last twelve months. The results exceeded February’s prints at -0.1% and -2.6%, respectively.
As of writing, the cross is losing 0.16% at 12.3164 and a breakout of 12.3926 (high May 21) would expose 12.4633 (MA100d) and then 12.6440 (weekly high Mar.15).
On the flip side, support levels line up at 12.2356 (MA50d) followed by 12.1685 (MA21d) and finally 11.9358 (low May 9).