Forex technical analysis: USDMXN is sure squeezing support and resistance

Technical Analysis

Author: Greg Michalowski | usdmxn

200 hour MA above.  100 day MA is below.

The USDMXN rallied - and traded above the 200 hour MA for the first times since January 20th. That break did not last long The pair is back down through the 100 hour MA and is looking toward the 100 day MA at the 20.2300 area. Yesterday the price dipped below 100 day MA but it too was a quick break and rebound


So the pair consolidates and the spring may be getting tighter in the process. At some points the market will make a break for it.  

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