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22 Mar 2013
Forex: USD/MXN in session lows around 12.3700/10
FXstreet.com (Barcelona) - The Mexican peso is now gaining ground against the US dollar on Thursday, after the jobless rate ticked lower to 4.85% during February from 5.42%. Further data from the domestic economy showed that the 1st half-month Core Inflation rose 0.26% in March, a tad higher than 0.24% previous.
The cross is now losing 0.52% at 12.3710 with the next support at 12.3680 (low Mar.20) ahead of 12.2549 (Lower Bollinger) and then 12.2355 (low Sep.1 2011).
On the flip side, a breakout of 12.4065 (MA100h) would expose 12.5525 (high Mar.12) and finally 12.6440 (high Mar.11).
The cross is now losing 0.52% at 12.3710 with the next support at 12.3680 (low Mar.20) ahead of 12.2549 (Lower Bollinger) and then 12.2355 (low Sep.1 2011).
On the flip side, a breakout of 12.4065 (MA100h) would expose 12.5525 (high Mar.12) and finally 12.6440 (high Mar.11).