• USD/MXN: Break above 17.42 essential to affirm an extended bounce – SocGen

Noticias del mercado

22 agosto 2023

USD/MXN: Break above 17.42 essential to affirm an extended bounce – SocGen

USD/MXN rebound has faltered near recent pivot high of 17.42. Economists at Société Générale analyze the pair’s technical outlook.

A pullback can be expected towards 16.80 in the short-term

Daily MACD is struggling to maintain above its trigger denoting lack of steady upward momentum. 

A break above 17.42 is essential to affirm an extended bounce. 

Short-term, a pullback can be expected towards 16.80, the 76.4% retracement of recent bounce. If the pair fails to defend this, one more down leg can’t be ruled out.

 

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: