FxWirePro: Mexican Peso marginally falls after Central bank chief Carstens’s comments

• Pair is currently trading around 20.60 levels.
   
• It made intraday high at 20.61 and low at 20.56 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 20.15 levels.
   
• A daily close below 20.15 marks will take the parity towards key support area around 19.85, 19.60, 19.38 and 18.89 levels respectively.
   
• On the other side, sustained close above 20.74 will take the parity higher towards key resistances around 21.09, 21.39, 21.62 and 21.98 marks respectively.
   
• In addition 20D, 30D and 55D EMA signals bullish trend in a daily chart.
   
• Mexico Central Bank deputy gov Sanchez says likley Mexican interest rates could keep rising, given Fed expectations.
   
• Mexico's Central Bank chief Carstens says renegotiation of NAFTA would affect Mexican economy due to uncertainty.
   
• Mexico's Central Bank chief Carstens says probable that Mexican economy sees a deceleration due to election of Trump.
   
• Mexico's Central Bank chief Carstens says Mexican peso is undervalued.
   
• Mexico's Central Bank chief Carstens says are "OK" with key interest rate now, has to see if Federal Reserve moves rates or not.

We prefer to take long position in USD/MXN around 20.50, stop loss 20.20 and target 20.74/21.09.