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AUSSIE 3-YEAR TECHS

(M2) Corrective Cycle Still In Play

USDCAD TECHS

Bearish Extension

US TSYS SUMMARY

Rates Back on the Downswing

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USDMXN Testing Key Support at 20

MEXICO
  • Momentum on MXN remains firm in today’s trading session, with USDMXN currently testing key support at 20.
  • While the trend in CEE currencies has halted in the past week due to the geopolitical uncertainty, Latam FX have been gradually converging back towards their 'fundamental' value.
  • Next level to watch on the downside on USDMXN stands at 19.85, followed by 19.72 (June 2021 lows).
  • On the topside, first resistance to watch stands at 20.24, followed by 20.42 (200DMA).
  • MXN strength has been levitating Mexican equities, with the MEXBOL index testing tis 56,000 level this week (index all-time high).

Source: Bloomberg/MNI

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  • Momentum on MXN remains firm in today’s trading session, with USDMXN currently testing key support at 20.
  • While the trend in CEE currencies has halted in the past week due to the geopolitical uncertainty, Latam FX have been gradually converging back towards their 'fundamental' value.
  • Next level to watch on the downside on USDMXN stands at 19.85, followed by 19.72 (June 2021 lows).
  • On the topside, first resistance to watch stands at 20.24, followed by 20.42 (200DMA).
  • MXN strength has been levitating Mexican equities, with the MEXBOL index testing tis 56,000 level this week (index all-time high).

Source: Bloomberg/MNI