FBS Markets Inc.

USD/MXN remains under pressure

Read the article on FBS website

Trade idea

SELL at 19.06; TP 19.00; SL 19.08

USD/MXN is testing levels below 50-week MA (19.2130) and is vulnerable for a slide to the 100-week MA (18.9090).

USDMXNWeekly.png

The pair is trading within a narrow rapid downtrend channel on D1. The next level of attraction is the 78.6% Fibo retracement in the 18.95 area. USD/MXN will find support in this area as it’s already quite oversold. That's why we chose more conservative targets for the trade.

FBS Analyst Team

FBS Analyst Team

Share with friends:

Similar

Latest news

Instant opening