The USD/MXN extends its downtrend for the 14th straight day, down a minimal 0.08% as the Mexican Peso hovers near a 24-month low of 17.01 on Thursday. At the time of writing, the emerging-market currency pair trades below 17.05 as traders digest recent soft US inflation figures on the consumer and producer sides.
USD/MXN Price Forecast: Technical Outlook
After clearing the 50- and 100-day Simple Moving Averages (SMAs) by the end of July, the USD/MXN accelerated its downtrend to yearly lows. Worth noting that the market structure of lower-highs and lower-lows is respected, and a breach below the 17.00 figure could open the door for further…
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