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USD/MXN: the clues from the technical picture

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Trade ideas

SELL 18.97; TP 18.90; SL 19.00

BUY 19.20; TP 19.28; SL 19.18

As you look for the technical trade ideas, pay attention to USD/MXN. On D1, the pair formed a bearish “shooting star” candlestick ahead of the resistance line from December high. In addition, the 100-day MA went below the 200-day MA. All this may mean that the pair isn’t just yet ready for a break to the upside. The further recovery is possible above 19.20, although the MAs in the 19.30 area will likely limit the upside.

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FBS Analyst Team

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