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Forex

Mexican Peso Reasserts Bullish Trend vs US Dollar

Guavy AI Editorial Team
Instruments
USD
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The Mexican Peso (MXN) has resumed its bullish trend against the US Dollar (USD), according to Societe Generale's analysis. Kenneth Broux highlighted that USD/MXN failed to clear its 200-day moving average, maintaining downward momentum.

The pair is attempting to break the lower end of a multi-month range, with resistance at 17.17 and projected downside objectives at 16.65 and 16.50/16.25.

Broux noted that USD/MXN struggled to overcome the 200-DMA in recent rebound attempts, indicating that downward momentum remains prevalent.

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