Asia stocks slip as looming tariff deadline eclipses trade progress
The USD/MXN is developing a long-term rounded top formation as it closed back below the 20.0000 level once again today.
In light of recent US Dollar weakness, this should not come as much of a surprise that the USD/MXN has been trading so heavily.
Technically, the USD/MXN is nearing key support at the 19.8400 level after spending the beginning of the year rejecting a long-term 50% retracement near the 21.0700 level.
The 200 DMA is near the same level. A break lower would put the 19.0000 big figure level in play.
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