Watching USDMXN for a potential move

Hey everyone, just looking at $USDMXN this morning and it's been surprisingly flat at 17.326. My read is that this tight range could be coiling up for a move, potentially to the upside if we get any hawkish shifts from the Fed or some unexpected softness in Mexico's economic data. Of course, a strong push below 17.300 would invalidate that idea for me, suggesting the downtrend still has legs.