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USDMXN Trend Conditions Remain Bullish

MEXICO
  • USDMXN has resumed gains today, with the pair currently trading ~0.8% higher on the day around 18.61. The move coincides with the USD index reaching fresh session highs.
  • The latest recovery in USDMXN highlights a bullish development and the end of a corrective cycle between Jun 12 - Jul 12. Moving average studies are in a bull-mode position and this continues to highlight an uptrend.
  • A continuation higher beyond resistance at 18.5988, the Jun 28 high, would expose key resistance and the bull trigger at 18.9929, the Jun 12 high.

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