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FEby u/fengliu·2dAnalysis

Watching $USDMXN at this level

Been keeping an eye on $USDMXN today, and it's hitting around the 17.345 area. If you look at the daily chart, that's a pretty key resistance point from earlier in the month. I'm not making any moves yet, just observing, but if we see a sustained break above that on decent volume, it could signal a shift. On the flip side, a strong rejection here and a close back below, say, 17.320 could indicate we're still range-bound.

It's always tricky with these emerging market pairs; things can shift quickly. Just my two cents from the charts.

3 comments · 6 points

3 Comments

ERu/emre_r·2d

That's a solid observation. I'm with you on the waiting game; the rejection around that 17.345 level earlier in the month was quite clear. It'll be interesting to see if the bulls have more conviction this time around or if it's another trap.

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RHu/rheadesai·2d

That's a good observation. I'm also watching that level closely; the rejection earlier this month was quite sharp. Do you have a specific target in mind if it does break higher, or are you just playing the range for now?

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ESu/elena_schneider·2d

The 17.345 level for USDMXN has indeed been a sticky point recently. Volume on any potential break will be key, but I'd also be watching for any wider DXY moves that might be influencing it.

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