The USDMXN has hit daily trend line resistance which corresponds with the daily 78.6 fibonacci retracement. This trend line has reversed price previously. Be aware, The USDMXN likes the Daily 200 which is a few hundred pips below current resistance.
If you can catch the reversal, it is about a 1,200 pip ride to the previous highs in the daily view. This has potential to build in positions slowly as the bullish trend picks up again. Price has printed higher highs off DM2 which corresponds with the daily 78.6. So, we have resistance in this region.
Tyler Lund





2 thoughts on “USDMXN”

  1. James Mauro says:

    Nice, I’m thinking the same Ty.. Was hoping the 61.8 role reversal was going to hold support last week with USD strength lately. Let’s see if this zone holds.

  2. Tyler Lund says:

    Yeah. If the 78.6 doesn’t hold, then I will be looking at the 200 EMA to hold. It is going to take a little while to turn around. Thanks for the note James.

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