The Mexican Peso (MXN) pauses on Tuesday after a multiple-day run of weakness in its key pairs.
The Mexican Peso takes a break after a string of days in which the currency has seen losses. As an emerging market currency it remains sensitive to risk sentiment which has dipped in recent sessions. USD/MXN pulls back from the key 20.00 level although the short-term trend remains bullish. The Mexican Peso pauses on Tuesday after a multiple-day run of weakness in its key pairs.
00 barrier and then pulls back. It will probably resume going higher once the correction ends. The pair is in a short, medium and long-term trend, which, given the principle in technical analysis that “the trend is your friend,” is more likely than not to extend. USD/MXN Daily Chart The break above 19.83 has confirmed a probable move up to the next target in the vicinity of the September 10 high at 20.13.
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