Mexican Peso Forecast: USD/MXN Propped Up By Rising Yields And Weaker Equities

To the downside, bearish pressure seems slightly limited at this point but we may see an attempt for new sellers to enter the market at more favorable levels. That said, I don’t think the current uptrend is in danger unless we see a drop below 20.50, and even then I expect to see support at the 76.4% Fibonacci (20.18) before any further downside is achieved.

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