The U.S. dollar has been a bit choppy against the Mexican peso during the trading session on Friday as we continue to just grind sideways overall. This is a market that, course, is paying attention to a lot of different things at the moment, not the least of which would be the U.S. government shutdown. However, really, when you look at the longer term picture, you see that the US dollar had skyrocketed back in the middle of April of 2024, extending from the 16.3 level all the way to the 21.3 level before pulling back. With that being the case, we find ourselves sitting just above the 61.8 % Fibonacci retracement level. And therefore, some technical traders will be watching this. The 18.20 Mexican pesos level for me is important because if we break down below there, typically I start aiming for a complete turnaround of the Fibonacci level, meaning we could drop all the way back down to the bottom. Short-term rallies will face some problems with 18.5 pesos and the 50-day EMA at the 18.57 level, which is dropping.
USDMXN: US Dollar Stable Against the Mexican Peso on Friday – 06 October 2025
