Support & Resistance

Technical Analysis of Intraday Movement of USD/MXN Currency Pairs, Thursday January 12, 2023

On the 4-hour chart, the USD/MXN currency pair appears to be attempting to correct an upward rally after breaking below the 19,036 level and the Awesome Oscillator indicator indicates that a downward move is imminent.

The area 18,980-19,039 must be tested before successfully heading to that region, but if USD/MXN drops below the 18,911 level again before reaching that region, the scenario described earlier will be invalidated and cancelled.

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