| 4H | 1D | 1W | |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
Since the beginning of September, the USD/MXN exchange rate has been trading downwards within a falling wedge pattern.
From a theoretical perspective, it is likely that the currency pair could continue to trade within the predetermined pattern within the following trading sessions. Then, a breakout north could occur, and the pair could target the Fibo 50.00% at 21.70.
In the meantime, note that the exchange rate is pressured by the 55-, 100– and 200-period moving averages in the 20.90/21.30 range. Therefore, some downside potential could continue to prevail in the market.