USDMXN holds key base

USDMXN holds key base

Key Support: 20.15
Key Resistance: 20.45

Mid-Term View
The USDMXN has rallied from the lows of a long term range around the 90.19 to 20.00 levels inside a very structured move.

Short-Term Readings

After missing the first impulse at the bottom of the move I´ve been watching this pair the entire week and today it created a perfect base at the retest of the previous broken level and 50% pullback of the first bullish impulse.

The continuation pattern is very clear here and should the bullish momentum continue at the break of the pattern price could reach the highs of the range around the 20.45

 

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Author : Orlando Gutierrez

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