USDMXN cracks above 200 bar MA on 4-hour and 50% midpoint and runs

Technical Analysis

Author: Greg Michalowski | usdmxn

Price runs higher in the USDMXN


As per the prior technical post on the USDMXN, the 200 bar MA on the 4-hour and the 50% retracement were levels to eye on the topside. They were broken and the break triggered stops. The prive moed up to 17.82695. That is near the 61.8% of the move down from the September high.  

The price is already moving back lower after that test but that could be into the support now at the 50% and the 200 bar MA. Stay above, and the buyers are still ok. Move below and the history of the past says, the selling will restart (see red shaded areas in the chart below).