The USDMXN pair has been trading in a flat over the last month, with the lower border of 19.8 and the upper border of 20.2. Now the price is approaching the support of 19.8. The USDMXN pair has not dropped back below this level since the beginning of June.
The Stochastic indicator signals oversold conditions, and may give a full-fledged buy signal within the couple of days. Further, we are waiting for another USDMXN hike to the resistance of 20.2.
This content is for informational purposes only and is not intended to be investing advice.
