USD/MXN came in motion

USD/MXN came in motion

Trade idea

SELL 18.98; TP 19.90; SL 19.00

USD/MXN fell for three days in a row, dived below 50-day MA (19.15) and closed yesterday below the support line going through 2018 lows (19.04). The Mexican peso is supported by the rising oil prices, while the USD weakened ahead of the Fed’s meeting. If the pair slides below 19.00, the next level to watch on the downside will be 18.90 (100-week MA) ahead of 18.75. To recover to 19.15, USD/MZN needs to return above 19.07.

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Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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