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MEXICO: Renewed Peso Weakness, USDMXN Tests Above First Resistance Point

MEXICO
  • USDMXN has renewed this week strengthening trend early into the US session on Wednesday and has taken out the overnight highs in the process. The pair now stands 2.5% higher on the week as the judges strike and weaker domestic data continue to weigh on the peso. 
  • Most recent price action has seen spot pierce above 19.1038, the Aug 12 high. Above here, the focus will be on 19.6105, the Aug 6 high. 

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