USD/MXN: But another leg of downtren on a breach of improve zone at 17.90/17.60 – SocGen

USD/MXN rebounded from a 5-year low of 17.90. Economists at Société Générale are expecting the pair to suffer one other gargantuan tumble easiest on a ruin beneath 17.90/60.

19.40/19.65 could be a actually important resistance advance term

“USD/MXN has lastly defended the sooner highlighted improve zone of 17.90/17.60 representing the low of 2018 and more importantly the pattern line connecting troughs of 2008 and 2013. A share of consolidation is no longer dominated out after a V-shaped leap.”

“The trough of Could well merely 2022 advance 19.40/19.65 which could be the 200-DMA could be a actually important resistance advance term.”  

“Most efficient if the pair breaches the improve zone at 17.90/17.60, would there be a chance of subsequent leg of downtrend.” 

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