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USD/MXN Technical Evaluation: Unclear indicators because it stands on the 20-day SMA

The USD/MXN bottomed at 20.15 after which bounced to the upside however remained beneath 20.40 all day. It was about to finish flat on Thursday, providing no robust indicators.  The worth corrected decrease from the multi-month excessive it reached on Monday at 20.64. The pattern nonetheless factors to the upside, however technical indicators present no clear indicators for the close to future.  Worth may begin buying and selling on a broader consolidation vary between 20.00/05 and 20.50. A break above 20.50 would expose weekly highs and strengthen the bullish case, whereas beneath 20.20 (additionally beneath the 20-day transferring common) would clear the best way to an extension of the correction with a possible goal at 20.00/05. 

USD/MXN Every day Chart



    At present Final Worth: 20.2508
    At present Every day change: 64 pips
    At present Every day Open: 20.2444
    Earlier Every day SMA20: 20.2356
    Earlier Every day SMA50: 19.5738
    Earlier Every day SMA100: 19.2368
    Earlier Every day SMA200: 19.2116
    Earlier Every day Excessive: 20.5197
    Earlier Every day Low: 20.2023
    Earlier Weekly Excessive: 20.552
    Earlier Weekly Low: 20.1112
    Earlier Month-to-month Excessive: 20.484
    Earlier Month-to-month Low: 18.5
    Earlier Every day Fibonacci 38.2%: 20.3235
    Earlier Every day Fibonacci 61.eight%: 20.3984
    Earlier Every day Pivot Level S1: 20.1245
    Earlier Every day Pivot Level S2: 20.0047
    Earlier Every day Pivot Level S3: 19.8071
    Earlier Every day Pivot Level R1: 20.4419
    Earlier Every day Pivot Level R2: 20.6395
    Earlier Every day Pivot Level R3: 20.7594


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