USDMXN - Daily technical Analysis 15:35 (CET)

24 November 2009 @ 01:45 pm EDT

After Fitch Ratings announced it would downgrade Mexico's credit rating to BBB, the Mexican Peso advanced against the dollar, trading at 12.91 pesos per dollar. The pair is finding resistance at the 23.50% fibo from 13.03 to 12.89 pesos.The bands of Bollinger show low volatility, while the RSI is on neutral ground. If the trend points down, the support to watch is 12.90 pesos.

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