USDMXN Technical Analysis

USDMXN Technical Analysis

USDMXN Technical Analysis: Weekly Chart

In the weekly charts, USDMXN is trading in an up channel. USDMXN is currently trading above all SMA.

RSI is in buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 20.2730 & the resistance level is at 20.6235.

USDMXN will trade in an up channel until there is trend reversal.

USDMXN Technical Analysis: Daily Chart

In the daily charts, USDMXN is trading in an up channel. USDMXN is currently trading below 20 days SMA & above 50 and 100 days SMA.

RSI is in buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 20.3994 & the resistance level is at 20.5866.

USDMXN will trade in an up channel until there is trend reversal. 

How to Trade USDMXN this Week:

USDMXN will follow the uptrend until their trend reversal. So, remain bullish on USDMXN.

TRADE SUGGESTION- BUY AT 20.4921, TAKE PROFIT AT 20.5866 AND STOP LOSS AT 20.3994

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