USD/MXN stages a sharp rebound from 61.8% Fib

Mexican Peso is being offered after Trump secured a win in the key state of Florida.

Consequently, the USD/MXN saw a sharp rebound from 18.15 (61.8% of Apr low – Sep high). The currency pair was last seen trading around 18.83 levels.

As per the latest reports, Trump has also secured victory in Texas, Wyoming, South Dakota and North Dakota. The total tally now tands at 124:97 in favor of Trump.

USD/MXN Technical Levels

Key resistance levels – 18.91 (10-DMA), 19.03 (200-DMA)

Key support levels – 18.7177 (Oct 21 high), 18.6656 (previous day’s high)