USD/MXN 1H Chart: Short-term decrease expected

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)BuySellBuy
Aggregate

The USD/MXN currency pair has been trading sideways between the 19.10 level and the Fibonacci 38.20% retracement at 19.21 since last Monday.  

Given that the pair is pressured by the 55-, 100– and 200-hour moving averages, it is likely, that some downside potential could prevail in the market. In this case, the exchange rate could decline to the support level - the monthly S1 at 19.00.  

If the given support holds, a reversal north could occur. Otherwise, the rate could continue to go downwards.  

From a technical perspective, it is unlikely, that the US Dollar could exceed the 19.42 mark due to the resistance of the monthly PP.

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