USD/MXN trend still points to the upside, but it is losing momentum Correction limited by 23.00, a slide below would clear the way to more losses. The USD/MXN reached a fresh monthly high on Tuesday at 23.22 and then pulled back to 22.95. The short-term bias point to the upside, but the momentum is fading, favoring a correction. The pair again failed at the 23.20 area and also the 55-days simple moving average. A firm break above would target 23.50/55; the next resistance stands at 23.70. A consolidation of USD/MXN below 23.00 would sign more losses ahead for a potential test the uptrend line, currently at 22.70 that should initially cap the downside. A break lower would negate the bullish outlook. As long as the pair remains above 23.00, another test of 23.20 seems likely. USD/MXN 4-hour chart 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 GBP/JPY Price Analysis: Could this powerful move lead to a reversal in the pairs fortunes? FX Street 2 years USD/MXN trend still points to the upside, but it is losing momentum Correction limited by 23.00, a slide below would clear the way to more losses. The USD/MXN reached a fresh monthly high on Tuesday at 23.22 and then pulled back to 22.95. The short-term bias point to the upside, but the momentum is fading, favoring a correction. The pair again failed at the 23.20 area and also the 55-days simple moving average. A firm break above would target 23.50/55; the next resistance stands at 23.70. A consolidation of USD/MXN below 23.00 would sign more losses ahead for a potential… 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.
