USDMXN bouncing from key structure

USDMXN bouncing from key structure

Key Support: 21.20
key Resistance: 21.40 -21.50 – 21.65

Mid Term View
After bottoming in January around 19.50 the USDMXN has rallied 10.60% from low to highs and is now trying to break a massive zone of resistance.

15M Chart Analysis
After topping around the 21.60 level the USDMXN has pulled back to a previous resistance turned support (21.20) and it´s retesting the bullish structure it´s trading in.

This is a high probability trade because of technicals but also because the US Dollar is currently in a bullish move.

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Author : Orlando Gutierrez

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