Capitalism or socialism for Mexico in 150 days

FX:USDMXN   U.S. Dollar / Mexican Peso
Mexican elections will be held on 1st July and candidate Lopez Obrador is the front runner.

According to Lopez Obrador:

  • "Venezuelan democracy is better than the Mexican one."
  • "We will revert PEMEX privatization. Oil belongs to the people."

It is unknown if Lopez Obrador would convert Mexico in the next Venezuela or not, but he is already spooking investors.

In the best scenario (blue star) USD/MXN could find support at ~17.4. In the worst scenario (red star) USD/MXN would increase and may find resistance at ~22.
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