Mexican Peso weakens in early North American trading as US Dollar gains strength. Mexican data is mixed though the economy finished 2023 on a higher note. Central bank divergence between Fed and Banxico could bolster USD/MXN pair. The Mexican Peso depreciated in early trading during the North American session as the US Dollar climbed some 0.25%, based on the US Dollar Index .
80 The USD/MXN has shifted to a neutral bias as buyers stepped in and lifted the exchange rate above the January 8 swing low of 16.78. After breaching that level, the pair clocked a new two-week high of 16.94, though buyers are taking a breather before launching an assault toward 17.00. Once that hurdle is overcome, the next resistance would be the 50-day Simple Moving Average at 17.02, followed by the 100-day SMA at 17.16 and the 200-day SMA at 17.21.
Source: Digital Coin News (digitalcoinnews.net)
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