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USD/MXN 1H Chart: Two scenarios likely

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

[ANNOUNCE] The US Dollar has been appreciating against the Mexican Dollar since the middle of January. This movement has been bounded in the ascending channel. [/ANNOUNCE] 

Currently, the currency pair is testing the upper channel line at 19.60. From a theoretical point of view, the exchange rate should reverse south and target the lower trend line located in the 19.15/19.25 range. 

However, if given channel does not hold, a breakout north occurs within following trading sessions. Potential upside target is the psychological level at 20.00. Important resistance level to look out for is the Fibonacci 50.00% retracement at 19.75.

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