The Mexican Peso rallies again

The USD/MXN breaks again below the 200 day moving average, around the 19.82, but this time it does it with a lot of strength. The drop in the pairs is due to support given to the Mexican Peso by US officials, which are considering that the rally on the US Dollar versus the Mexican currency is not convenient for either country. Therefore, it is possible to see some sort of intervention in the near future on the USD/MXN. Technically, we can see that the drop accelerates from the 200 day EMA due to the consolidation that was created on top of that moving average, indicating that the sell orders were accumulating there. That is why once the price breaks the 200 day EMA, the drop accelerates rapidly. If the pair continues falling, then the 19.00 level may act as support. To the upside, in case the pair goes back above the 200 day EMA, then the 55 day EMA on the 20.41 level may act as resistance followed by the 21.00 level.