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USD/MXN stays trapped in its range for now, with key support seen at the 200-week average at 19.7799/19.5488, the Credit Suisse analyst team reports.

Key supports continue to hold for now

“USD/MXN continues to weigh heavily on a cluster of key lows and its 200-week average at 19.7799/19.5488. Only below here though would see the ranging phase of the past few months resolved lower to turn the core trend bearish again, exposing the 18.5212 low of 2020.”

“Above 20.33/20.3820 is needed to ease the immediate bearish tone.”

 

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