Technical Analysis

USDMXN approaches 100 day MA

Also the  high from August 15

The USDMXN is moving higher and looks to test the August 15 swing high at 19.2949 and the 100 day MA at 19.3050. 

There may be an agreement with Mexico per se, but if a deal with Canada is not forthcoming, that could stall that deal as well in Congress. Then again that might be a ploy to squeeze the Dems into the November election too (“I brought a deal with Mexico and you turned it down”).  

Technically, the August 15 high, and the 100 day MA will help tell the story. Sellers should lean against the levels with stops above, but we have to remember there is a lot of weekend risk.  

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