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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MXN
- The strong dollar squeeze following the Fed decision has been especially aggressive against the Mexican Peso, with USDMXN firming roughly 2%.
- USDMXN broke through a considerable amount of resistance last night, prompting the continuation in early trade on Thursday.
- Key resistance had been seen at 20.2132, Jun 4 high where a sustained break was required to alter the bearish technical picture. After clearing this level the 100-day MA was broken around 20.24.
- Most notably however the downtrend connecting the April 6th 2020 high and the March 2021 highs was also broken around 20.39, coinciding with not only the 38.2% Fib retracement of the March-June sell-off but also the 200-day MA at 20.4045.
- The quick spike up this morning has been capped by the 50% retracement at 20.6172.
MNI/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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