Looking at the Weekly and 4hour timeframes, the dollar Mexican peso continues to soar gradually and we should get a retest of the most previous supply at 20.50- 20.56 zone, which is our projected target before we get any significant reaction
The USD/MXN is up on Thursday amid a stronger US dollar across the board. The pair is trading at 20.07, at the highest intraday level. Wall Street is turning from neutral to bearish, favoring the greenback.
On the upside, the immediate resistance is seen at 20.10. A consolidation above could point to further gains and a test of the critical area between 20.17 and 20.20. A daily close above 20.20 would be a positive technical development suggesting more gains ahead, targeting the 20.45 area.
Our projected target is 20.50 given all these factors
The USD/MXN is up on Thursday amid a stronger US dollar across the board. The pair is trading at 20.07, at the highest intraday level. Wall Street is turning from neutral to bearish, favoring the greenback.
On the upside, the immediate resistance is seen at 20.10. A consolidation above could point to further gains and a test of the critical area between 20.17 and 20.20. A daily close above 20.20 would be a positive technical development suggesting more gains ahead, targeting the 20.45 area.
Our projected target is 20.50 given all these factors