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USDMXN is extending even lower and it’s now already at 261,8% Fibonacci extension of wave 4, so it’s most likely in an extended wave 5 or alternatively in wave 3. Anyway, in both cases we should be aware of more weakness to complete a lower degree five-wave bearish cycle.

Currently it can be finishing subwave 3, so after a subwave 4 pullback, watch out for a bearish continuation within subwave 5 of (3). As long as it’s below 19.19 invalidation level, we remain bearish.

(Click on image to enlarge)

USDMXN 2H Chart

For more analysis like this you may want to watch below our latest recording of a live webinar streamed on June 09 2025: Direct Link.

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