USD/MXN Breaking Down Below Key Trend Line
Chart Analysis:
The USD/MXN pair has definitively broken below the rising trendline (black), suggesting a potential shift in the bullish structure. The price is now consolidating below the trendline near 20.14, with the next support levels coming into focus.
1️⃣ Trendline Break:
The drop below the rising trendline indicates a weakening of the previous bullish momentum. Traders may now look for confirmation of a further bearish move.
2️⃣ Moving Averages:
50-day SMA (blue): At 20.19, price is hovering just below this level, reinforcing bearish pressure.
200-day SMA (red): Positioned at 18.64, this serves as the next significant support if selling intensifies.
3️⃣ Momentum Indicators:
RSI: At 47.12, trending lower but not yet oversold, leaving room for additional downside.
MACD: Negative and flattening, indicating continued bearish momentum with no signs of reversal yet.
What to Watch:
If the pair continues lower, the next key support zone lies near 19.80–20.00, followed by the 200-day SMA at 18.64.
For bullish recovery, the price would need to reclaim the broken trendline and move back above the 50-day SMA at 20.19.
The USD/MXN trendline break shifts the focus to downside risks, with key support zones and momentum indicators suggesting further bearish potential.
-MW
The USD/MXN pair has definitively broken below the rising trendline (black), suggesting a potential shift in the bullish structure. The price is now consolidating below the trendline near 20.14, with the next support levels coming into focus.
1️⃣ Trendline Break:
The drop below the rising trendline indicates a weakening of the previous bullish momentum. Traders may now look for confirmation of a further bearish move.
2️⃣ Moving Averages:
50-day SMA (blue): At 20.19, price is hovering just below this level, reinforcing bearish pressure.
200-day SMA (red): Positioned at 18.64, this serves as the next significant support if selling intensifies.
3️⃣ Momentum Indicators:
RSI: At 47.12, trending lower but not yet oversold, leaving room for additional downside.
MACD: Negative and flattening, indicating continued bearish momentum with no signs of reversal yet.
What to Watch:
If the pair continues lower, the next key support zone lies near 19.80–20.00, followed by the 200-day SMA at 18.64.
For bullish recovery, the price would need to reclaim the broken trendline and move back above the 50-day SMA at 20.19.
The USD/MXN trendline break shifts the focus to downside risks, with key support zones and momentum indicators suggesting further bearish potential.
-MW
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