USD/MXN – Needs weekly close above rising channel hurdle
USD/MXN hit a record high of 20.7825 after Trump shocked markets by scoring victory over Clinton.
As of now, the spot is trading around 20.30 levels. On the weekly chart, we see a rising channel and currently the pair is trading above the rising channel hurdle.
Trump has won the elections and that means the potential for a recovery in Mexican Peso is limited, unless Trump reaches out to Mexico.
On the weekly chart, if we get a bullish break, the potential for further sell-off in the Peso would strengthen.
As of now, the spot is trading around 20.30 levels. On the weekly chart, we see a rising channel and currently the pair is trading above the rising channel hurdle.
Trump has won the elections and that means the potential for a recovery in Mexican Peso is limited, unless Trump reaches out to Mexico.
On the weekly chart, if we get a bullish break, the potential for further sell-off in the Peso would strengthen.
