| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇒ |
The USD/MXN currency pair has been trading downwards within a falling wedge pattern since the beginning of July.
From a theoretical point of view, it is likely that the exchange rate could continue to decline within the given pattern in the medium term. In this case the rate could gain support from the Fibo 50.00% at 21.70.
Meanwhile, it is unlikely that bulls could prevail in the market, and the currency pair could exceed the psychological level at 23.20, as it is pressured by the 55-, 100– and 200-period SMAs.