USD/MXN Technical Outlook Remains Bearish

USD/MXN Technical Outlook Remains Bearish

USD/MXN Technical Highlights:

  • USD/MXN downtrend remains well intact
  • March trend-line a guide
  • 19.55 support level to watch

USD/MXN tried to pop above the March trend-line last month, but was quickly swatted lower. This keeps pressure on the downside as we continue forward. A move down below 19.55 could open up the door towards support (18.52) from prior to the coronavirus spike. Risk trends remain favorable for a bearish outlook – it will likely take a dose of fear in markets to bring buyers in full force to the pair.

USD/MXN Daily Chart (March resistance, 19.55 support)

USD/MXN Chart by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

—Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

https://platform.twitter.com/widgets.js

Originally Posted on: https://www.dailyfx.com/forex/technical/article/special_report/2021/02/12/USDMXN-Technical-Outlook-Remains-Bearish-PRtech.html
By: Paul Robinson

Written by:

10,034 Posts

View All Posts
Follow Me :

Leave a Reply

%d bloggers like this: