USD/MXN: Below 16.40, next potential objectives situated at 16.10 and 15.90 – SocGen USDMXN Banks
USD/MXN decline has gradually accelerated after it gave up the 50-DMA in March. The pair is not far from a multi-month descending trend line near 16.60/16.40. The move is a bit overstretched however signals of a meaningful rebound are not yet visible. Below 16.40, next potential objectives are situated at projections of 16.10 and 15.90.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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