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11 Feb 2013
Forex: USD/MXN finds bids around 12.7500
The Mexican peso is now reverted the upside against its northern neighbour, pushing the pair from the proximities of 12.7500 to the current levels around 12.7650
The peso has appreciated after the Industrial Output in Mexico contracted 2.1% on a monthly basis during December and 1.1% over the last twelve months, below previous prints at +0.9% and +2.8%, respectively.
At the moment, the pair is now advancing 0.29% at 12.7648 facing the next hurdle at 12.7910 (high Feb.11) ahead of 12.8485 (MA21d) and then 13.0600 (high Dec.24).
On the downside, a breach of 12.5555 (low Jan.17) would bring 12.5500 (Mar. 2012 low).
The peso has appreciated after the Industrial Output in Mexico contracted 2.1% on a monthly basis during December and 1.1% over the last twelve months, below previous prints at +0.9% and +2.8%, respectively.
At the moment, the pair is now advancing 0.29% at 12.7648 facing the next hurdle at 12.7910 (high Feb.11) ahead of 12.8485 (MA21d) and then 13.0600 (high Dec.24).
On the downside, a breach of 12.5555 (low Jan.17) would bring 12.5500 (Mar. 2012 low).