The USD/MXN pair trades on the backfoot during the Asian session on Wednesday and consolidates its recent losses to over a one-week low touched the pr
USD/MXN oscillates in a narrow trading band near a one-week trough touched on Wednesday. The mixed technical setup warrants caution for bears and before positioning for deeper losses. A sustained strngth beyond the 38.2% Fibo. level will set the stage for some maningful upside. evious day. Spot prices currently trade around the 17.80 region, down 0.
10 intermediate support. The downward trajectory could get extended and drag the USD/MXN pair to the 16.90-16.85 area and the multi-year low, around the 16.65-16.60 region touched in July. On the flip side, the 18.00 round figure now seems to act as an immediate hurdle ahead of the 18.15-18.20 zone. This is followed by 38.2% Fibo., around the 18.30 region and mid-18.00s, or the monthly.
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