Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Trading news
Back
17 Jan 2024

USD/MXN Price Analysis: Rises to near 17.25 followed by the 38.2% Fibonacci retracement

  • USD/MXN could find resistance around the 38.2% Fibonacci retracement at 17.43.
  • MACD indicates a shift towards bullish momentum for the pair.
  • The 21-day EMA at 17.04 aligned with the psychological level at 17.00 could act as a key support region.

USD/MXN continues to gain ground for the third consecutive session on Wednesday, trading higher around 17.25 during the European session followed by the immediate resistance level around the 38.2% Fibonacci retracement at 17.43.

The 14-day Relative Strength Index (RSI), a momentum oscillator that measures the speed and change of price movements is positioned above the 50 mark, indicating the bullish momentum for the USD/MXN pair.

Additionally, Additionally, the lagging indicator “Moving Average Convergence Divergence (MACD)” lies below the centerline but shows divergence above the signal line, which suggests a potential shift in momentum towards an upward trend.

A breakthrough above the Fibonacci retracement level could influence the USD/MXN pair to test the major level at 17.50 aligned with December’s high at 17.56. if the pair surpasses the latter, it could explore the psychological region around the 18.00 level.

On the downside, the 21-day Exponential Moving Average (EMA) at 17.04 could act as a key support level in conjunction with psychological support at 17.00. A break below the latter could influence the bears of the USD/MXN pair to revisit the weekly low at 16.84 level.

USD/MXN: Daily Chart

 

Jan 17, 2024

The better Dollar/softer risk environment can drag GBP/USD back to the 1.2500 area – ING

The Pound Sterling (GBP) is enjoying a bounce after the December UK Consumer Price Index (CPI) figure came in higher than expected.
Read more Previous
Jan 17, 2024

PBoC is tolerating a slightly weaker Yuan – Commerzbank

China’s GDP growth met official target, but underlying data is a mixed bag.
Read more Next