USD/MXN facing key resistance at 18.73

USD/MXN facing key resistance at 18.73

The USD/MXN pair remains trading above the 200 SMA and it’s approaching a key offer zone, which should activate sell orders in a short-term basis. The resistance level of 18.74, which is a Fibonacci area of 65%, could provide the enough momentum to the upside in order for the pair to resume the bearish bias towards the target of -23.6% at 18.43.

RSI indicator remains in the positive territory, favoring to a possible last bulls’ run.

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