USDMXN Consolidation before strong decline.

FX_IDC:USDMXN   U.S. Dollar / Mexican Peso
The USDMXN pair gave us the most optimal sell signal on our last analysis (October 09 2023) and after hitting our 17.0500 target, is consolidating:

This consolidation is on 1D RSI terms, similar to September 28 - October 28 2022, when the RSI Triangle broke downwards and with that, the price was detached from the 1D MA50 (blue trend-line) and aggressively declined to marginally over the -0.236 Fibonacci extension. As a result, we are taking now another sell with our Target at 16.200 (Fibonacci -0.236).


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