Forex: USD/MXN bouncing off lows after Mexican data

The Mexican peso found selling interest despite the better data from the Mexican industrial production during January, expanding 1.1% MoM and 1.7% on a yearly basis, beating both expectations (0.50% and 1.45%) and previous prints (-2.1% and -1.1%). After appreciating to the area of 12.4200 vs. the greenback, the MXN slipped back to the current area of 12.4560/70 in the wake of the data.

The cross is now losing 0.62% at 12.4548 facing the next support at 12.4100 (low Sep.11 2011) while resistance levels line up at 12.6953 (MA10d) and then 12.7900 (high Feb.8).