USD/MXN rates are testing critical near-term support, which very well could be the determining factor in the predominant trading trend through the end of the year.
While other currencies are benefiting from the US Dollar’s (via the DXY Index) weakness, the reliance the Mexican economy has on the United States has left the Peso struggling relative to other global growth-sensitive currencies.
At the time of publication of this analysis, USDMXN is on 22.2230 and is testing its critical support zone.
We can find good sell entries if it breaks this zone and there is no fake breakout and at point 22.100 we can place our sell entries till next support at 21.49300.
Entries should be placed only if all the rules of entries are applied.
While other currencies are benefiting from the US Dollar’s (via the DXY Index) weakness, the reliance the Mexican economy has on the United States has left the Peso struggling relative to other global growth-sensitive currencies.
At the time of publication of this analysis, USDMXN is on 22.2230 and is testing its critical support zone.
We can find good sell entries if it breaks this zone and there is no fake breakout and at point 22.100 we can place our sell entries till next support at 21.49300.
Entries should be placed only if all the rules of entries are applied.
