USDMXN Breaks Support Once Again

USDMXN CHART PRICE – USDMXN DAILY

The US dollar broke its support on friday session, during the reopening it recovered all the losses and on today’s trading session is testing that resistance again, the relative strength index is currently at 44% which indicates that the price could continue to drop, the bollinger bands are wide and steady which means we can expect volatility, while the moving averages indicate that a downtrend could continue and the price currently trades under the ichimoku cloud,, it looks like the support has been broken once again and we predict that the price could go to he 21.90 levels, make sure you keep an eye on the RSI levels and as it gets closer to 30% it will be time to close your positions.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.