FxWirePro: USD/MXN drops below 15.2066, good to sell on rallies
The Mexican Peso rallied against greenback in the UK session. It probed daily cloud top/61.8% Fib support by 15.28 on dovish Fed. Peso is expected to rally in the short term and it has broken the support level at 15.2575…
The Mexican Peso rallied against greenback in the UK session. It probed daily cloud top/61.8% Fib support by 15.28 on dovish Fed.
Peso is expected to rally in the short term and it has broken the support level at 15.25750.
It is currently trading at 15.19333 level, the support can be seen at15.14345 and a break below this level will expose the pair to the next support level at 14.99747.
Major resistance can be found at 15.53032 a break above this level will expose it to the 15.56181 handle and later to 15.61880.
Recommendation: Sell @15.2010 with Target @15.1445,14.9978 SL 15.32201