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USD/MXN drops to lows post-CPI

FXStreet (Edinburgh) - The Mexican peso is gathering some traction vs. its northern neighbor on Tuesday, taking USD/MXN to fresh session lows around 15.0700.

USD/MXN softer on data

The pair accelerated the intraday decline after consumer prices tracked by the 1st Half-Month CPI in the Aztec economy advanced at a monthly pace of 0.1% in February, reverting the previous contraction of 0.19%; Core prices followed suit, up 0.28% vs. -0.09% previous. In the US docket, Home Prices gauged by the S&P/Case-Shiller index advanced 4.5% on a year to December, surpassing both estimates and previous reading.

USD/MXN important levels

As of writing the pair is up 0.01% at 15.0917 and a surpass of 15.1555 (high Feb.11) would aim for 15.2660 (high Mar.9 2009). On the downside, the next support lines up at 15.000 (psychological level) ahead of 14.9858 (Tenkan Sen) and finally 14.8682 (21-d MA).

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