Note

Technical analysis: Mexican Peso advance continues as USD/MXN holds firm below 16.90

setleme
· Views 32



The USD/MXN downtrend remains intact, with sellers keeping the exchange rate below 16.90. If they push the pair below the year-to-date (YTD) low of 16.78, look for a deeper correction past last year’s 16.62 low. Initial targets are October 2015’s low of 16.32 and the 16.00 mark.

On the other hand, if buyers reclaim the 17.00 figure, that could open the door to testing the 50-day Simple Moving Average (SMA) at 17.05, followed by the 200-day SMA at 17.24 and the 100-SMA at 17.38


Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.

Content related