USD/MXN can try to reclaim recent pivot high at 20.40 – Société Générale
Source Fxstreet
USD/MXN has breached the lower limit of its multi-month range denoting risk of persistence in decline, Société Générale's FX analysts note.
USD can also fall towards 19.57 and 19.35
"Next layer of support is located at 19.75/19.68 representing the 200-DMA. Daily MACD is within deep negative territory highlighting a stretched down move. It will be interesting to see if the pair can attempt a bounce and reclaim recent pivot high at 20.40. Inability to defend the MA at 19.68 can result in a deeper pullback towards next projections at 19.57 and 19.35."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Elon Musk’s D.O.G.E fails to stop US federal spending from hitting all-time highsUS federal spending just hit a record $603 billion in February, in spite of Elon Musk’s Department of Government Efficiency (D.O.G.E) tearing through government agencies with mass firings and budget cuts. Treasury data released Wednesday confirms that spending still jumped by $40 billion compared to last year, a 7% increase, exposing how difficult it is […]
US federal spending just hit a record $603 billion in February, in spite of Elon Musk’s Department of Government Efficiency (D.O.G.E) tearing through government agencies with mass firings and budget cuts. Treasury data released Wednesday confirms that spending still jumped by $40 billion compared to last year, a 7% increase, exposing how difficult it is […]
XRP price started a fresh recovery wave above the $2.120 zone. The price is now consolidating and might clear the $2.350 resistance zone. XRP price started a fresh recovery wave above the $2.120
XRP has struggled to gain momentum, with its price caught in a downtrend since the beginning of March. Although XRP has managed to push up in the past five days after reaching a low of $1.93 on March
Gold price (XAU/USD) remains strong near $2,985 after retracing from an all-time high of $3,005 during the early Asian session on Monday.
Executive SummaryThere’s no doubt that Trump’s high tariffs and retaliatory measures from trade partners alone could dampen the upward momentum of U.S. and European stock markets. However, Trump’s pot
Related Instrument
