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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…

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  • 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

Resistance Levels

R1: 15.26024
R2: 15.3819
R3: 15.53032 

Support Levels

S1: 15.14345
S2: 14.99747
S3: 14.75659

 

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