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

Notícias do 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.

Dollar could suffer temporarily if Saudi Arabia joins the BRICS grouping – ING

United States Redbook Index (YoY) climbed from previous 0.7% to 2.9% in August 18

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