#USDMXN @ 17.9992 : Stretched downtrend, potential support at 17.90/17.60 – SocGen
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
USD/MXN has extended its phase of decline after breaking the low of 2022. Economists at Société Générale note that the move is a bit stretched.
“USD/MXN breached the lower limit of the range during 2021/2022 resulting in an extended downtrend. It is close to potential support zone of 17.90/17.60 representing the low of 2018 and projections.
“Daily MACD is within deep negative territory denoting an overstretched move. Test of this zone can lead to a rebound; the 50-DMA at 18.85/19.00 is expected to be a short-term resistance.”
[/s2If]
Join Our Telegram Group
