amateur_trad3r

USDMXN is trading in a very strong support level

Long
FX:USDMXN   U.S. Dollar / Mexican Peso
The USDMXN is trading close to a very solid support near the 200 EMA in weekly candle. It has been bouncing since November last year from that same support. The last time it broke the 200 ema was in May 2013; in February of last year it reacted strongly when it touched it. From my perspective, an upward rebound is more likely than a break of the support, which could reach 20.5 pesos per dollar.

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