USD/MXN has damaged beneath key multi-month help, forming a bearish rounding high sample and signaling potential draw back towards 19.10 and 18.70, Societe Generale’s FX analysts report.
Draw back targets embrace 19.10, 19.00 and probably 18.70
“USD/MXN broke beneath the decrease restrict of its multi-month vary and has shaped a rounding high sample, this factors in the direction of potential draw back. It’s in neighborhood to a projection of 19.30. The 200-DMA close to 20.10 may present resistance if a short-term rebound develops.”
“The pair seems to be poised to go decrease regularly in the direction of subsequent aims ultimately September / October lows of 19.10/19.00 and 18.70.”
