The currency pair of the US Dollar vs Mexican Peso continues to move within the ascending channel. At the time of the publication of the forecast, the course of the US Dollar to the Mexican Peso is 20.09. At the moment, we should expect an attempt to test the support level near the 19.75 area and continue the growth of the pair to the area above the level of 20.50.
USD/MXN forecast Mexican Peso November 1, 2018
In favor of the growth of quotations of the Mexican Peso will test the rising trend line on the indicator of relative strength index (RSI). Cancellation of the growth option of the USD/MXN currency pair at Forex will be a fall and a breakdown of the 19.55 area, which will indicate a breakdown of the lower boundary of the channel and the continuation of the fall in quotations to the area below the level of 19.10. It is worth waiting for the confirmation of the pair growth with the breakdown of the resistance area and closing of the USD/MXN quotes above the level of 20.25.
USD/MXN forecast Mexican Peso November 1, 2018 suggests an attempt to test the support area near the level of 19.75 and continue growth to the area above the level of 20.50, an additional signal in favor of the pair growth at Forex will be the support line test on the relative strength index (RSI), canceling the growth option the US Dollar/Mexican Peso will fall and the breakdown level of 19.10.