The Mexican peso is sharply depreciating against its northern neighbour on Tuesday, as risk aversion is pushing safe havens to higher ground.
After climbing as high as 12.8149, the pair is now giving away part of those early gains, as the peso is gathering pace on better-than-expected Consumer Confidence in Mexico, rising to 99.00 during December, beating expectations and previous print at 93.70 and 94.20 respectively.
At the time of writing, USD/MXN is up 0.15% at 12.7872 with the next resistance located at 13.0600 (high Dec.24) followed by 13.1050 (high Oct.29) and 13.0820 (high Nov.28).
On the flip side, a breach of 12.7350 (low Jan.3) would bring 12.7230 (low Jan.7) and finally 12.6825 (low Dec.12).
After climbing as high as 12.8149, the pair is now giving away part of those early gains, as the peso is gathering pace on better-than-expected Consumer Confidence in Mexico, rising to 99.00 during December, beating expectations and previous print at 93.70 and 94.20 respectively.
At the time of writing, USD/MXN is up 0.15% at 12.7872 with the next resistance located at 13.0600 (high Dec.24) followed by 13.1050 (high Oct.29) and 13.0820 (high Nov.28).
On the flip side, a breach of 12.7350 (low Jan.3) would bring 12.7230 (low Jan.7) and finally 12.6825 (low Dec.12).
