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USDMXN Narrows Gap With Key Technical Point

MEXICO
  • USDMXN continues to gravitate towards key support at 18.50, extending the post-Banxico decline to a little over 2%. With no major economic data releases this week in Mexico, all focus will be on the US data for short-term momentum. A break of 18.5080 will resume the technical downtrend. Initial resistance comes in at 19.0677, the 50-day EMA.

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