The US dollar rose against the Mexican peso, reversing the previous day's decline from a six week high.

The integration of 100-HMA and 50-HMA challenges Mexican pesos against buyers.

The Mexican market has been closed due to Benito Juarez's birthday.

The imminent bull market crossover on MACD and stable RSI make buyers full of hope.

The US dollar strengthened its decline against the Mexican peso against the previous day's high of 1.5 months on Tuesday morning, as Mexican peso traders celebrated Benito Juarez's birthday. However, as of the time of publication, the currency has maintained a moderate bid around 18.84.

In doing so, the Mexican peso currency pair marked the convergence of the 50 hour moving average (HMA) and the 100 HMA.

However, it should be pointed out that the upcoming bull market crossover and stable RSI (14) in the MACD have led buyers of the US dollar/Mexican peso to hope to break through the key resistance convergence of 18.85.

Afterwards, the 19.00 threshold may serve as an intermediate pause between the latest peak of 19.23 and the previous month's high of 19.30.

If the US dollar remains strong against the Mexican peso after 19.30, bulls may find it difficult to break through the December 2022 marked levels of 19.60 and 19.90 before approaching the psychological magnet of 20.00.

On the contrary, the pullback trend remains elusive until the US dollar/Mexican peso currency pair remains at the support line of a week ago (close to 18.70 as of press release).

Even if the Mexican peso breaks through the above support line, the 200-HMA level close to 18.65 may stimulate bearish positions before giving them control.

Trend: Expecting further upward movement