| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇑ | ⇗ | ⇒ |
The US Dollar has been appreciating against the Mexican Peso since the middle of November. This movement has been bounded within the rising wedge pattern.
From a theoretical perspective, it is likely that a breakout south could occur within the following reading sessions. In this case the USD/MZN exchange rate could target the Fibonacci 38.205 retracement at 19.21.
However, note that the currency pair is supported by the 55-, 100– and 200-hour moving averages. Therefore, the pair could continue to trade upwards in the nearest future. Important level to look out for is the Fibonacci 50.00% retracement at 19.75.