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USDMXN Prints Fresh 2023 Lows As Peso Resiliency Shines

MEXICO
  • As noted earlier, attention for USDMXN has remained on the bear trigger at 17.4207, May 15 low, a level that was pierced last Friday.
  • Downward momentum has gained some traction on Tuesday and the pair is now trading just above 17.40 at the lowest level since May 2016.
  • A sustained break would confirm a resumption of the downtrend and opens the potential for a move to 17.0507, the Apr 29 2016 low.

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