• USD/MXN: Phase of correction likely to extend on a break below 16.60 – SocGen

Noticias del mercado

25 marzo 2024

USD/MXN: Phase of correction likely to extend on a break below 16.60 – SocGen

Economists at Société Générale analyze USD/MXN technical outlook.

Risk of deeper decline if 200-DMA near 17.20 not overcome

USD/MXN has recently struggled to overcome the 200-DMA (now at 17.20) resulting in persistence of decline. It has retested last year low of 16.60 which is an interim support.

Daily MACD has started posting positive divergence denoting receding downward momentum but, move beyond the MA near 17.20 would be essential to confirm a meaningful up move.

In case the pair breaks 16.60, the phase of correction is likely to extend. Next potential objectives could be located at projections of 16.40 and 16.10.

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: