USD/MXN is testing levels below 50-week MA and is vulnerable for a slide to the 100-week MA.
Tag - mxn
Why does the Mexican peso can be considered a good trading opportunity at the end of this week?
USD/MXN has met resistance at the line connecting 2017 and 2018 highs.
The USMCA agreement between the US, Canada and Mexico and the new president-elect inauguration were expected to shed some light to the MXN. However, the election of Andres Manuel Lopez Obrador resulted in many uncertainties for the investors and therefore weakened the Mexican peso.
Get the clues on trading the Mexican peso!
The new agreement between the United States, Mexico and Canada (USMCA) did not result in the long-term strengthening of the Mexican peso. Let's find out the reasons why.