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USDMXN Consolidates Below 19.75 Following Support Breach

MEXICO
  • USDMXN is trading lower today and importantly, is consolidating below yesterday’s breach of support at 19.7533, the Sep 12 low. The break confirms a resumption of the downtrend that started Jul 14.
  • This opens 19.6185, the Jun 10 low and 19.4136 further out, the May 30 low. Key short-term resistance has been defined at 20.1759, the Oct 19 high. Initial resistance is at 19.9172, the 20-day EMA.

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