Chart Of The Day: EUR/MXN

 | Oct 14, 2020 06:05PM ET

A break below the 24.7500 level would be a bearish event for this pair. The 200-day moving average resides just below, which would also be watched carefully. A move of the EUR/MXN breaking down below triangle support would confirm a move higher in SPX (to new all-time highs), which would also be on our radar as the SPX and EUR/MXN have a very strong inverse correlation (teal line).