USDMXN: Supported by bullish daily indicators – Natixis

Micaella Feldstein, Research Analyst at Natixis, suggests that the increase in the daily volatility, the break of the 19.53-19.57 area (rising trendline) and the bullish daily indicators should support the USD/MXN cross in the coming days.

Key Quotes

“Against this backdrop, dips should be short lived and we favour another leg higher to the 20 symbolic barrier ahead of the 20.80 resistance (weekly parabolic). The clearance of the latter would provide fresh bullish impetus to 21.03 (LT rising trendline), to 21.34-21.40 (Fibonacci extension) and the 21.84 area. The supports stand at 19.57, at 18.87, at 18.50 and at 18.1690.”