The USD/MXN daily chart depicts that buyers lifted the exchange rate to a new four-day high of 16.67. Yet they still need to achieve a daily close above last year’s low of 16.62 before moving to test the 50-day Simple Moving Average (SMA) at 16.95. Further upside is seen at the 100-day SMA at 17.05, ahead of the 200-day SMA at 17.19.
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