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USDMXN Trend Remains Lower, Covid Situation Worsening

MEXICO

Having tested the 50-day EMA at 20.2176 and sharply back below, the primary trend currently remains down. Strength in US Treasury Futures prompted fresh US Dollar selling. Additionally, a very strong commodity complex has boosted the EM FX rebound. Key support remains 19.6010, Jan 6 low and is the bear trigger.


Figures detail that Mexico is suffering just as much as other nations regarding the virus.

  • Mexico reported a record daily rise of 1,314 more Covid-19 deaths.
  • In Mexico City, 92% of general hospital beds occupied, 88% of beds with ventilators occupied.

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