The USDMXN has been in a descending channel since spring of this year, but is near channel support with a strongly divergent RSI. Since the MXN has gained about 10% against the US Dollar since the beginning of the year, however rate differentials are tightening, the appetite for MXN at current levels may be waning. It's not time to be outright bullish the USD over the MXN, but a break back above the 18.8500 level may suggest that time may be near.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.