The USDMXN reached the lowest level since May 2016 earlier this week. The low price reached 17.39476 which took out the low from July 2017 at 17.4461. The price has bounced back on and currently trades at 17.7132. At the session low, the pair on the weekly chart was nearing a lower channel trend line, before bouncing back higher. That trend line comes in at 17.3732. That level would need to be broken to increase the bearish bias.

USDMXN
USDMXN bounces off multi year low this week.

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