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USD/MXN – Needs weekly close above rising channel hurdle

OANDA:USDMXN   U.S. Dollar / Mexican Peso
USD/MXN hit a record high of 20.7825 after Trump shocked markets by scoring victory over Clinton.

As of now, the spot is trading around 20.30 levels. On the weekly chart, we see a rising channel and currently the pair is trading above the rising channel hurdle.

Trump has won the elections and that means the potential for a recovery in Mexican Peso is limited, unless Trump reaches out to Mexico.

On the weekly chart, if we get a bullish break, the potential for further sell-off in the Peso would strengthen.
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