- Analytics
- News and Tools
- Market News
- USD/MXN: Inability to cross the 200-DMA at 17.27 could result in persistence of decline – SocGen
USD/MXN: Inability to cross the 200-DMA at 17.27 could result in persistence of decline – SocGen
USD/MXN must overcome the 200-Day Moving Average (DMA) at 17.27 to confirm short-term up move, analysts at Société Générale say.
Break below 16.78 can lead to one more leg of downtrend
USD/MXN has recently carved out a higher trough at 16.78 as compared to the one last year near 16.60. An initial bounce has taken shape, but the pair continues to struggle at reclaiming the 200-DMA near 17.27. This hurdle must be overcome to confirm a short-term uptrend. Inability to cross the 200-DMA could result in persistence of decline.
Break below 16.78 can lead to one more leg of downtrend towards the last year low of 16.60/16.40.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
