{
  "id": 5650054,
  "title": "USD/MXN Price Forecast: Peso rally targets April 2024 low",
  "url": "https://urgent.news/2026/09/04/usd-mxn-price-forecast-peso-rally-targets-april-2024-low",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-04T21:59:40.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/usd-mxn-price-forecast-peso-rally-targets-april-2024-low-202609042159"
  },
  "original_language": "en",
  "account": "The Mexican Peso (MXN) has surged to two-year highs around 16.85 against the US Dollar (USD), defying the strong Nonfarm Payrolls report from the United States. As of the latest update, the peso stands at 16.88 and is expected to continue its decline, potentially hitting the April 2024 lows of 16.74. Traders note that the downtrend may persist as the USD/MXN pair approaches two-year lows. The Relative Strength Index (RSI) indicates increasing bearish momentum, with the 16.50 mark as the first support level. Subsequent targets include May’s 2024 low of 16.52 and the 2024 yearly low of 16.26. A break above these levels would spark interest in the 16.00 figure. For a bullish reversal, the peso must surpass the 17.00 level, aiming for higher prices. The August 19 high of 17.07 serves as the next resistance, followed by the 50-day SMA at 1725 and the 100-day SMA at 17.30. Above these levels lies the 200-day SMA at 17.48. The value of the Mexican Peso is influenced by various factors, including the performance of the Mexican economy, the Central Bank's policies, foreign investment, remittances, and geopolitical developments. Additionally, oil prices, given Mexico's significant oil exports, also impact the currency. Mexico's central bank, Banxico, aims to keep inflation low and stable, around its target of 3%. Interest rate decisions by Banxico directly affect the Mexican Peso's valuation; higher rates make it more attractive to investors, while lower rates tend to weaken the peso. Economic data releases are crucial in assessing the economic state and can influence the Mexican Peso's valuation. A robust Mexican economy with high growth, low unemployment, and high confidence is favorable for the MXN, attracting foreign investment and potentially leading to higher interest rates. Conversely, weak economic data can cause MXN to depreciate. During risk-on periods, the Mexican Peso tends to perform well, while during market turbulence or economic uncertainty, it often weakens. Analysts monitor USD/JPY and AUD/USD alongside USD/MXN for a comprehensive view of the global currency landscape.",
  "summary": "The Mexican Peso appreciates against the US Dollar, testing two-year highs near 16.85 as the USD/MXN sets aside a strong US Nonfarm Payrolls report, which was ignored by the Peso’s bears.",
  "key_points": [
    "Mexican Peso surges to two-year highs at 16.85 against USD",
    "USD/MXN pair expected to hit April 2024 lows of 16.74",
    "Support levels at 16.50, 16.52, 16.26, and 16.00"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}