USD/MXN remains under pressure

USD/MXN remains under pressure

Trade idea

SELL at 19.06; TP 19.00; SL 19.08

USD/MXN is testing levels below 50-week MA (19.2130) and is vulnerable for a slide to the 100-week MA (18.9090).

USDMXNWeekly.png

The pair is trading within a narrow rapid downtrend channel on D1. The next level of attraction is the 78.6% Fibo retracement in the 18.95 area. USD/MXN will find support in this area as it’s already quite oversold. That's why we chose more conservative targets for the trade.

Similar

Levels to trade EUR/USD

EUR/USD met resistance in the 1.1415 area. The pair’s advance in the recent days was quite rapid, so it might be hard for the euro to retain the bullish momentum.

NZD/CHF is in a downtrend

NZD/CHF is trading within a downtrend on D1. The currency pair went below 78.6% at 0.6450 and is likely to test levels around 0.6390/70.

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