The USDMXN rejected the 20.60 level last week, level that has seen BIG sellers jump in 2 times in the past (December and November 2020) capping the bearish momentum in the MXN against the USD.
Now we are looking at a possible short setup at the retest of the previous key level and monthly pivot whilst printing short term bearish divergence.
The break of the continuation pattern and today´s open should open up momentum to the down side.
Use sell stop orders at the validation level for easier entries.
Validation Level: 20.1635
Invalidation Level: 20.2960
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