The US Dollar is surging against the Mexican Peso on a medium scale in an ascending channel pattern. Simultaneously the currency exchange rate is also gaining ground in a larger scale ascending channel. The junior pattern is a representation of the pair's rebound against the dominant channel's support line. Meanwhile, the currency rate has revealed itself to be highly affected by the Fibonacci retracement levels, which are measured by connecting the 2016 low and 2017 high levels. The pair is heading for the resistance at 19.53, where it is put up by the 50.00% Fibonacci retracement level. However, the pair is already overbought, as 72% of trader open positions are short.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 19.52/53 | Trend line; 50.00% Fibo | MACD (12; 26; 9) | Buy | Buy | Sell | ||
| R3 | 19.34/39 | Trend line; weekly R2 | RSI (14) | Neutral | Neutral | Neutral | ||
| R2 | 19.26 | Monthly R1 | Stochastic (5; 3; 3) | Sell | Sell | Sell | ||
| R1 | 19.19 | Weekly R1 | ADX (14) | Neutral | Buy | Neutral | ||
| S1 | 19.06 | Trend line | CCI (14) | Neutral | Sell | Neutral | ||
| S2 | 18.97/93 | 55-period SMA; 38.20% Fibo; weekly PP | AROON (14) | Buy | Buy | Buy | ||
| S3 | 18.89/86 | 100-period SMA; monthly PP | Alligator (13; 8; 5) | Buy | Buy | Sell | ||
| S4 | 18.82/81 | Trend line; 200-period SMA | SAR (0.02; 0.2) | Sell | Buy | Sell | ||
| Aggregate | → | ↗ | ↘ |