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USD/MXN Inches Through Resistance

MXN
  • Weakness in MXN persisting in recent trade, with USD/MXN showing above the earlier-noted resistance at the early April highs of 20.195. The pair's now at the best levels since Mar24 and could signal a potential base.
  • Immediate focus is on the 50-day EMA at 20.2478 before the 200-day EMA at 20.4295.- Moves come ahead of Friday's bi-weekly inflation data where the annual headline rate is expected to have risen to 7.63%, with Core CPI also estimated to advance above 7% from a prior reading of 6.88%.

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