USD/MXN is trying to recover

USD/MXN is trying to recover

Trade idea

BUY 19.51; TP 19.6670; SL 19.45

BUY 19.6150; TP1 19.6670; TP2 19.73; SL 19.59

USD/MXN was supported by the 50-week MA around 19.38 and the 100-day MA at 19.33. The pair also went above the 50-day MA (now at 19.52). On the H4, we see a series of higher highs and lows. This may mean that USD/MXN has found a short-term base and may test resistance at 19.67 (38.2% Fibo of the August-September decline and the 200-period MA on the H4). The next level to watch on the upside will be at 19.78 (50% Fibo). Support lies at 19.5095 and 19.4500 (MAs on the H4). 



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