| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The USD/MXN currency pair has been trading downwards within the descending channel since the middle of January. Currently, the pair is trading at the 18.70 level.
From a theoretical perspective, it is likely that the exchange rate could continue to trade downwards within the given channel in the medium term. Note that the rate would have to surpass the Fibonacci 23.60% retracement at 18.55.
If the given support level holds, it is likely that a reversal north could occur, and the currency pair could extend gains in the medium term. In this case it is unlikely that the pair could exceed the Fibonacci 38.20% retracement at 19.21.