USDMXN has recently been moving within a descending trend; as a result of which, the price line on this pair dumped to a strong support zone at about 19.5. The green zone on the chart represents the main demand zone in the mentioned support level. The green curved line indicates the trend line on the last bearish leg on this pair. RSI is has issued positive divergence and MACD is showing potential for a trend reversal. Buyers can keep an eye on this pair and in case the price line breaks above the red trend zone, they can enter long position and target the resistance levels above the price line.
• There is resistance 19.84460 followed by resistance at 19.94000 and 20.16080
• There is support at 19.61000. Below, there is 19.50000 and 19.04000
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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