In the weekly chart we can note that the market found a strong support region, having tested bottom break and failed. After that we could see that the market broke the choppy market and is above the moving average 21 (dashed line).

The RSI (14) also broke the bearish trend and began to make higher funds. From this premise we can before confirmation presume that the price will fetch levels of fibonacci seeking its correction and I see that the level of 38.2% is in zone of resistance and should make a stop there.

In the monthly chart we can see 3 background figures (3 hammers) and the RSI supports this view.

The fundamentals of USD and MXN support my technical vision.

Indicators used:
RSI 14
Fibonnacci
SMA 100
MA 21
SMA 200


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