USD/MXN to see bearish pressure on a break below key supports at 19.7799/19.5488 – Credit Suisse
|USD/MXN stays trapped in its range for now, with key support seen at the 200-week average at 19.7799/19.5488, the Credit Suisse analyst team reports.
Key supports continue to hold for now
“USD/MXN continues to weigh heavily on a cluster of key lows and its 200-week average at 19.7799/19.5488. Only below here though would see the ranging phase of the past few months resolved lower to turn the core trend bearish again, exposing the 18.5212 low of 2020.”
“Above 20.33/20.3820 is needed to ease the immediate bearish tone.”
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