Societe Generale believes that in order to confirm a sustained recovery, it is crucial for the US dollar to surpass the 17.42 peso level, as the current exchange rate stands at 16.9502 US dollars to the Mexican peso.

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USDMXN Chart by TradingView

USD/MXN rebound has faltered near recent pivot high of 17.42. Economists at Société Générale analyze the pair’s technical outlook.

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