The USD/MXN stages a recovery after trading below the $18.00 barrier during the last few days. Nevertheless, USD/MXN bulls are far ahead of declaring victory, as they need to reclaim the weekly high at 18.1788, followed by the 20-day Exponential Moving Average (EMA) at 18.2898. Once done, the USD/MXN could consolidate around the 18.1800-18.3000 area before testing the 50-day EMA at 18.6430. Otherwise, the USD/MXN is at the brisk of falling below 18.0000, which could pave the way for a new YTD low print.
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