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  • USD/MXN remains depressed near the weekly support line.
  • Failures to stay positive beyond key HMAs keep sellers hopeful.
  • A fortnight-old resistance line adds upside barrier.

USD/MXN seesaws around 24.00, down 0.12% on a day, during Friday’s Asian session.

The pair’s failures to stay positive beyond 100 and 200-HMAs currently drag it near the weekly support line, around 23.88, a break of which can challenge late-April low near 23.64.

During the quote’s further downside past-23.64, April month low near 23.28 and late-March bottom surrounding 22.85 will lure the bears.

Meanwhile, an upside clearance of 22.22/25 resistance confluence, comprising the said HMAs, challenge a two-week-old falling trend line, at 24.58 now.

In a case where the buyers manage to cross the said resistance line, they can refresh monthly high beyond 24.89 and aim for 25.00 round-figures during further upside.

USD/MXN hourly chart

Trend: Bearish