| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
Since the middle of September, the USD/MXN currency pair has been trading downwards within a falling wedge pattern.
From a theoretical point of view, it is likely that the exchange rate could continue to trade within the predetermined pattern until the beginning of 2021. Then, a breakout north could occur, and the rate could target the Fibo 38.20% at 22.57.
Meanwhile, note that the currency pair is pressured by the 55-, 100– and 200-period moving averages in the 19.96/20.45 range. Thus, a breakout south could occur, and the pair could target the 18.00 level.