USD/MXN suggests Trump lost debate

Omkar Godbole FXStreet Contributor

The first presidential debate has concluded and the jury is out if one were to believe the slide in the USD/MXN pair.

Mexican Peso has been highly sensitive to Trump’s growing popularity and rightfully so given the Trump’s repeated rant about Mexican immigration.

USD/MXN pair dropped from the high of 19.922 and traded around 19.55 levels at the time of writing. Political experts also suggest Clinton gained an upper hand in today’s debate. However, there are still two more debates to go.

USD/MXN Technical Levels

A breakdown of support at 19.5055 (Sep 22 low) would open doors for a slide to 19.2186 (weekly pivot R1). On the higher side, resistance at 19.6625 (weekly pivot R2) could yield a re-test of the daily high of 19.922.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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