• USD/MXN must re-establish above 17.50 to affirm an extended bounce – SocGen

Noticias del mercado

6 julio 2023

USD/MXN must re-establish above 17.50 to affirm an extended bounce – SocGen

USD/MXN traded below 17 on Wednesday. Economists at Société Générale analyze the pair’s technical outlook.

Signals of a meaningful rebound are not yet visible

USD/MXN has experienced a relentless downtrend after breaking below the sideways consolidation during 2021/2022. The move is a bit stretched however signals of a meaningful rebound are not yet visible. 

Next potential supports are located at projections of 16.95 and 16.60/16.40. 

The 50-DMA at 17.50 is short-term hurdle. The pair must re-establish above this to affirm an extended bounce. 

 

Enfoque del mercado
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Abrir cuenta demo y página personal
Entiendo y acepto la Política de Privacidad y estoy de acuerdo con que mi nombre y datos de contacto sean procesados por TeleTrade y utilizados para contactarme en lo referente a: