'USDMXN Breaking Lower

11 בנוב׳ 2022

USDMXN is coming down, now breaking 19.43 decisively as the Bank of Mexico's lift rates from 9.25 to 10% as expected, while on other hand US inflation is coming down. So it's a double win for bears on USDMXN which are in full progress now in wave 3 with support around 19.00. Resistance on rally is at 19.43 and the trendline.

We have been bearish on USDMXN for a while and looking even for 18.50 pandemic level on a bigger picture. Below that is 17.33. We cover these in our video a few weeks back.