USD/MXN struggles to extend the pullback from a four-week-old support line. 200-bar SMA offers an additional filter to further downside. Buyers may look for entry beyond 20-day-old horizontal resistance. USD/MXN registers mild losses of 0.30% while taking rounds to 23.62 amid Tuesday’s Asian session. The pair recently bounced off a multi-year rising support line but fails to extend the recovery moves. As a result, sellers will look for entry below the three-week-old rising trend line, near 23.30/28, while targeting a 200-bar SMA level of 22.77. In a case where the USD/MXN prices remain heavy below 22.77, mid-March month low near 21.35 and 20.00 round-figure will be on the bears’ radar. Meanwhile, an upside clearance of a horizontal area since March 19, between 24.65/75, is likely near-term strong resistance holding the gate for the pair’s run-up towards the monthly high near 25.80. USD/MXN forecast chart Trend: Pullback 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: Holds above 1.09, charts show failed breakout FX Street 2 years USD/MXN struggles to extend the pullback from a four-week-old support line. 200-bar SMA offers an additional filter to further downside. Buyers may look for entry beyond 20-day-old horizontal resistance. USD/MXN registers mild losses of 0.30% while taking rounds to 23.62 amid Tuesday’s Asian session. The pair recently bounced off a multi-year rising support line but fails to extend the recovery moves. As a result, sellers will look for entry below the three-week-old rising trend line, near 23.30/28, while targeting a 200-bar SMA level of 22.77. In a case where the USD/MXN prices remain heavy below 22.77, mid-March month low near… 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.
