The Mexican Peso is benefiting from the good manufacturing results in China and by the reduction of the fears about a spill over effect of the Dubai debt crisis, which reduced the risk aversion.The pair is trading at 12.88, breaking the lower band of Bollinger, hinting a possible correction to the middle band (12.87), while the RSI is on oversold ground.

If the trend stays to the downside, the support is at 12.86, while the 50-days MA could act as a resistance.