USD/MXN faces a technical correction following a recent rally above its 200-day moving average, with analysts eyeing 17.68 as the primary support level for potential trend confirmation.
Societe Generale notes USD/MXN rebounded above the 200-DMA but is pulling back, with support at 17.68 and 17.40 watched for a possible reversal signal.
Societe Generale analysts report that the USD/MXN pair is undergoing a technical pullback after reaching an interim high of 18.43. Market participants are now monitoring key support levels at 17.68 and the 200-day moving average of 17.40 to determine if a durable reversal is forming.
The primary support levels to watch are 17.68 and the 200-day moving average at 17.40, following a recent peak at 18.43.