The recent bearish wave in the USD/MXN price line, combined with the approaching oversold condition and the emergence of a bullish divergence in the RSI, suggests a potential reversal and trend change. Traders should closely monitor the price action for confirmation of these signals. If the oversold condition is confirmed and the RSI continues to diverge positively, it could indicate a weakening of the bearish momentum and a possible shift in favor of the US dollar. However, it is important to exercise caution and consider other technical and fundamental factors before making any trading decisions.
• There is a resistance level 17.40000 followed by resistance at 17.20700 and 17.00000.
• There is a support level 19.12100. Below, there are 19.45450 and 20.58000.
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.
Comments are closed.
