USD/MXN searches for a firm direction below the key upside barrier. 10/21-day SMAs and 23.6% Fibonacci retracement challenge buyers. Late-March low on the sellers’ radars. USD/MXN remains mostly directionless around 23.40 amid Wednesday’s Asian session. Even so, the pair remains below the strong resistance confluence including 10 and 21-day SMAs as well as 23.6% Fibonacci retracement level of February-April upside. As a result, sellers are gradually inching closer towards late-March low near 22.86 with 23.00 round-figure likely offering an intermediate halt. However, 50% Fibonacci retracement level around 22.10 could challenge the pair’s further downside. On the upside, a successful break above 23.95/24.05 area could aim for 24.75 ahead of targeting the record high of 25.78. USD/MXN forecast chart Trend: Further weakness expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Price Analysis: Sidelined after bullish daily close FX Street 2 years USD/MXN searches for a firm direction below the key upside barrier. 10/21-day SMAs and 23.6% Fibonacci retracement challenge buyers. Late-March low on the sellers’ radars. USD/MXN remains mostly directionless around 23.40 amid Wednesday’s Asian session. Even so, the pair remains below the strong resistance confluence including 10 and 21-day SMAs as well as 23.6% Fibonacci retracement level of February-April upside. As a result, sellers are gradually inching closer towards late-March low near 22.86 with 23.00 round-figure likely offering an intermediate halt. However, 50% Fibonacci retracement level around 22.10 could challenge the pair’s further downside. On the upside, a successful break… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.