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USD/MXN tests pullback levels after rebounding above 200-day DMA

Societe Generale flagged 17.68 as first support and the 200-day moving average near 17.40 as key downside levels after USD/MXN’s interim high around 18.43.

Reported · Written up by our desk · Major Pairs

Societe Generale analysts said USD/MXN extended its rebound after reclaiming the 200-day moving average near 17.40, and after posting an interim high around 18.43.

FXStreet reports that the rebound is now seeing a brief pullback, with traders watching whether a base can form to support a more durable reversal.

The analysts highlighted 17.68 as first support and the 200-day DMA near 17.40 as the key downside levels to monitor.

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Sources

FXStreetMexican Peso: Watching support for reversal signal against US Dollar – Societe Generale

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