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.

1 2
View single page >> |

Disclosure: See the full disclosure for DailyFX here.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.