USD/MXN Price Analysis: So far, just a correction – by MSalordFX USDMXN Currencies Technical Analysis
The USD/MXN peaked last week above 21.00, levels not seen since March. It failed to hold above 21.00 and it pulled back initially to 20.60. On Friday, it broke lower and bottomed on Monday at 20.32, near the 20-day Simple Moving Average.
The retreat from monthly highs so far, represents a correction in USD/MXN. The short-term bias remains bullish. A consolidation below 20.45 would keep the upside limited. A close under 20.22 could change the short-term bias to neutral.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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