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GVby u/giulia_vermeulen·5dAnalysis

USDMXN: Watching 17.086 Support

Been keeping a close eye on $USDMXN. We've seen a pretty consistent move lower, and today's intraday low of 17.086 is starting to look like a critical support zone. If we manage to close below that level, especially on a daily chart, I'd anticipate further downward pressure, potentially towards the 17.00 psychological level. The risk to this scenario, of course, is a quick snap-back above 17.20. A strong bounce off 17.086 and a push past the day's high of 17.215 would invalidate the immediate bearish bias and could signal a consolidation phase or even a reversal, but for now, 17.086 is the level I'm watching closely.

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1 Comments

NBu/nbondarenko·5d

Agree, that 17.086 level has been key. I'm also watching the 4-hour close for confirmation before assuming further downside.

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