USD/MXN Analysis Today - 02/12: Calm Before U.S Data (Chart)

(MENAFN- Daily Forex) After trading around the 20.73000 level into Wednesday of last week, the USD/MXN has begun to exhibit calmer trading sentiment among financial institutions, but the currency pair remains within higher elements still even as it trades lower USD/MXN has traded slightly lower and is touching the 202.41400 level early this morning currency pair has come off of high water marks seen last week when financial institutions reacted to President-elect Donald Trump\u0026rsquo;s rather loud threat of trade tariffs for Mexico USD/MXN traversed the 20.73000 vicinity into Wednesday of last week before showing some signs of tranquility and incrementally selling to its current values. Top Forex Brokers 1 Get Started 74% of retail CFD accounts lose money Read Review BrokerGeoLists({ type: \u0027MobileTopBrokers\u0027, id: \u0027mobile-top-5\u0027, size: 5, getStartedText: \u0060Get Started\u0060, readReviewText: \u0060Read Review\u0060, Logo: \u0027broker_carrousel_i\u0027, Button: \u0027broker_carrousel_n\u0027, });However, the USD/MXN is not free of concerns quite yet. The currency pair remains within the higher elements of its long-term price range and the rather public negotiations between the incoming U.S administration and Mexico will certainly continue to be heard in the news. The support level of 20.40000 may remain an interesting focal point for short-term traders.U.S Holiday Reactions and Jobs Data Later this WeekThe return of full volume for the USD/MXN later today will impact the currency pair. USD/MXN values will prove to be choppy in the coming hours as equilibrium is sought. While some retail traders may remain convinced the USD/MXN is in overbought territory, until the currency pair can produce a sustained downwards trajectory back to the 20.30000 level, nervous outlooks still must be considered a factor and this may lead to some buying when support levels are perceived technically only is nervous sentiment still fragile for the USD/MXN regarding potential economic policies, but the U.S will also publish its important jobs data this coming Friday. And this may prove rather challenging for USD/MXN traders as the current price realms are tested. The higher values of the currency pair have maintained values above the 20.00000 level since the 8th of November. This appears for the moment unlikely to suddenly change/MXN Short-Term Consideration and SpeculationShort-term traders of the USD/MXN pair need to remain alert. Behavioral sentiment in the currency pair has not only been under the shadow of President-elect Trump, but it needs to be remembered strong buying occured when the Morena political party of Mexico became stronger in the late spring elections of 2024 institutions remain nervous about a potential collision between Mexico and the U.S regarding trade negotiations and this could cause support to remain rather durable near-term may remain a place where support levels could trigger buying opportunities in the USD/MXN if the U.S jobs numbers are weaker than anticipated this coming Friday, this should be treated carefully by USD/MXN speculators because reversals could still flourish because of nervous conditions/MXN Short Term Outlook:Current Resistance: 20.43900Current Support: 20.40900High Target: 20.51200Low Target: 20.33500 EURUSD Chart by TradingView

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