November 10, 2022 13:42 GMT
USDMXN Makes New Marginal Low For The Year
- MEXICAN PESO JUMPS TO 2022 HIGH AT 19.4125/USD AFTER US CPI (BBG)
- Last week’s break of 19.75 confirmed the end of a period of consolidation that started mid-August and confirmed a resumption of the downtrend that started Jul 14. Note that moving average studies remain in a bear mode position, highlighting the current sentiment.
- The focus turns to 19.2802, 1.00 projection of the Jul 14 - Sep 12 - Sep 28 price swing. Initial resistance is at 19.7370, the 20-day EMA.