USD/MXN: rallies hard on NAFTA / Trump policy risks
|Currently, USD/MXN is trading at 19.2335, up 1.97% on the day, having posted a daily high at 19.3070 and low at 18.8534.
White House prepares order on withdrawing from NAFTA - Politico
After the recent news that Trump will pull out of NAFTA the peso has been smashed to the upside extending the correction for the late January sell-off from the 22.03 handle. According to Politico, citing two White House officials, U.S. President Trump's administration is preparing an order on withdrawing from NAFTA.
"The approach appears designed to extract better terms with Canada and Mexico," - Politico
USD/MXN levels
Spot is presently trading at 19.2315, and next resistance can be seen at 19.2845, 19.3210 (Daily Classic R3), 19.4611 (Weekly Classic R3), 19.6284 (Daily 200 SMA) and 20.0672 (Daily 100 SMA). Support below can be found at 19.1875 (Weekly Classic R2), 19.1658 (Daily Classic R2), 19.0291, 19.0141 (Daily Classic R1) and 19.0105.
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