USDMXN Could Reach Support at 21.31

USDMXN CHART PRICE – USDMXN DAILY

The US dollar had a hard end at the end of last week, losing almost 2%, after that it made a slight recovery just to fall again in the following days, it is currently on a 3 day losing streak and the downtrend could continue for a few more days, we see that the relative strength index is at 37%, meaning we still have some room to go short before its considered oversold at 30%, the bollinger bands are wide and we can expect volatility, and the moving averages are not too close to a cross but this could happen in the short term if the price makes it to the support level.

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.