Looking back, last week - and again earlier this week - sellers had their chance to break the pair lower, pushing below the key swing area between 20.0156 and 20.1564. However, the bearish follow-through failed. Sellers had their shot, and they missed. The buyers reentered.
200-bar moving average on the 4-hour chart at 20.3076
The high price today reached to the 100 day MA, and stalled.
Until that breakout occurs, the market remains in neutral-to-positive territory, with buyers trying to hold the gains after last week's break lower failed. Close support is the 100 bar MA on the 4-hour chart at 20.1564..
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about banxico delivers rate cut as expected usdmxn rebound tests key resistance was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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