USD/MXN Analysis Today - 26/08: Nervous USD/MXN Rise (Chart)

(MENAFN- Daily Forex) The USD/MXN suffered nervous trading all of last week, and as the USD got weaker against many major currencies the Mexican Peso didn\u0026rsquo;t have the same reaction USD/MXN pair is trading near the 19.22330 mark as of this writing. Last Monday the USD/MXN began its trading near the 18.65400 vicinity of last week until Friday, the USD/MXN exhibited waves of increasing nervous buying Friday the USD/MXN was trading near the 19.50000 level when U.S Fed Chairman Jerome Powell said the federal Funds Rate is too high USD/MXN stumbled to the 19.02000 vicinity and closed near the 19.10000 ratio going into the weekend created downward momentum going into trading on the 19th of August, the USD/MXN was showing signs of positive momentum from financial institutions who seemed to be more comfortable with the Mexican government\u0026rsquo;s fiscal policies. Suddenly that began to change early last week and the passage of a strict rent control mandate in Mexico City might have stirred a lot of nervousness among financial institutions. Perhaps it has nothing to do with the sudden strong buying of the USD/MXN, but behavioral sentiment seemingly has become pessimistic again Forex Results versus Trading in the USD/MXNWhile most other major currencies have gained against the USD the Mexican Peso\u0026rsquo;s trading results last week highlighted something is making financial institutions uneasy. The buying of the USD/MXN in a strong fashion last week did not correlate to other Forex pairs via the percentage change. While the USD/MXN did sell off on Friday after Jerome Powell\u0026rsquo;s speech, the currency pair is still significantly above last week\u0026rsquo;s values seen Monday through Wednesday Wednesday of last week the USD/MXN climbed above the 19.00000 level and picked up momentum from there which saw a high on Thursday around the 19.53800 mark. It might be wrong to think financial institutions punished the Mexican Peso because of the rent control mandate in Mexico City, but it certainly did not help. The notion that the Federal Mexican government is still pushing for major judicial reform which many institutions are against is not helping sentiment either/MXN Opening Higher this Morning another Warning SignThe USD/MXN jumping higher on the opening this morning is another warning sign financial institutions are nervous about Mexico. The USD/MXN hit a high of nearly 19.30000 early. Yes, the trading has come down from the high, but values above the 19.20000 ratio have been sustained should continue to monitor the USD/MXN for volatility the currency pair remains above the 19.20000 level today and tomorrow this will be a clear sign financial institutions are nervous and their outlooks are cautious.A move below the 19.18000 and sustained trading lower to Friday\u0026rsquo;s lows would be a sign some financial institutions believe the currency pair should be lower need to be careful with the USD/MXN today/MXN Short Term Outlook:Current Resistance: 19.23300Current Support: 19.20010High Target: 19.27500Low Target: 19.16540

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