| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The US Dollar has been depreciating gradually against the Mexican Peso since the beginning of March. This movement has been bounded in the descending triangle pattern.
As apparent on the chart, the currency pair has already reversed north from the lower pattern line at 18.76. From a theoretical point of view, the pair should target the upper triangle boundary located in the 19.20/19.30 range.
However, this advance might not be immediate, as the currency pair has to surpass the resistance formed by the 200-hour SMA, currently located at 18.94. Also, important level to look out for is the Fibonacci 38.10% retracement at 19.21.