| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Buy | Buy | Neutral |
| Stochastic (5; 3) | Buy | Buy | Buy |
| Alligator (13; 8; 5) | Sell | Sell | Buy |
| SAR (0.02; 0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇗ |
The US Dollar has been depreciating against the Mexican Peso after the currency pair reversed south from the psychological level at 20.60 at the beginning of December. This movement has been bounded in the falling wedge pattern.
Technical indicators suggest that the exchange rate is in the oversold territory, thus, it is likely that a breakout north from the pattern occurs in the nearest future. Potential upside target is the resistance level formed by the Fibonacci 50.00% retracement at 19.75.
However, this advance might not be immediate as the pair has to surpass the resistance formed by a combination of the 55-, 100– and 200-hour SMAs, currently located in the 19.21/19.44 range.