USDMXN - Mexican Peso Recovers
During the trading session on Monday and Tuesday the Mexican peso has recovered.
I expect the US Congress will pass the U.S.-Mexico-Canada Agreement in a few weeks. That should help the Mexican Peso to break the support 19.5 (Green Line). I also expect the trade between the United States and China to come down before the US elections. It is important to notice that the USDMXN price is in a triangle since last year. If there is good news from Mexico, we could finally break the triangle to the downside.
On the other hand, Trump could threat Mexico again with bad comments just as he did in 2016, especially during this time (elections in 2020), making the Mexican peso weak.
Thanks for reading!
I expect the US Congress will pass the U.S.-Mexico-Canada Agreement in a few weeks. That should help the Mexican Peso to break the support 19.5 (Green Line). I also expect the trade between the United States and China to come down before the US elections. It is important to notice that the USDMXN price is in a triangle since last year. If there is good news from Mexico, we could finally break the triangle to the downside.
On the other hand, Trump could threat Mexico again with bad comments just as he did in 2016, especially during this time (elections in 2020), making the Mexican peso weak.
Thanks for reading!
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