Active Trader
Jan 20, 2019
USD/MXN: Consolidation at higher levels, still bullish but limited by 19.50

The Mexican adding occurring was along amongst the worst performers yet again the week, but USD/MXN held out cold the 19.45/50 mighty establish place. Volatility exaggeration taking into account more the last few days, after breaking the mighty resistance at 19.20, now retain. Over the subsequently than-door-door days, a consolidation along in the midst of 19.20 and 19.45 seems likely. So far and wide away there are no sealed signals that the rally of the US dollar finished. An unadulterated crack above 19.50 would mitigation to more gains ahead. On the downside, below 19.20 the pair is likely to test an ascendant trendline at 19.05/08. A crack demean will likely reduction to a test of January lows at 18.85/87.