{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-mxn-stands-on-major-support\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-mxn-stands-on-major-support\/","headline":"USD\/MXN Stands On Major Support!","name":"USD\/MXN Stands On Major Support!","description":"USD\/MXN is traded at 20.901 level at the time of writing. The pressure remains high as the pair is still located in the seller\u2019s territory. The DXY\u2019s sell-off forces the USD to depreciate versus its rivals. Still, the pair is located around a strong demand zone, that’s why we can search for long opportunities. In […]","datePublished":"2021-12-11","dateModified":"2021-12-11","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/#Person","name":"Olimpiu Tuns","url":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/","identifier":19876,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/12\/USDMXN_2021-12-10_18-11-23.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/12\/USDMXN_2021-12-10_18-11-23.png","height":868,"width":1834},"url":"https:\/\/forexschoolonline.com\/usd-mxn-stands-on-major-support\/","about":["USD\/MXN"],"wordCount":213,"keywords":["Forex","Technical Analysis","trading","usdmxn"],"articleBody":"USD\/MXN is traded at 20.901 level at the time of writing. The pressure remains high as the pair is still located in the seller\u2019s territory. The DXY\u2019s sell-off forces the USD to depreciate versus its rivals. Still, the pair is located around a strong demand zone, that’s why we can search for long opportunities.In the short term, the volatility is high after the US inflation data publication. The CPI registered a 0.8% growth in November versus 0.7% expected, while the Core CPI increased by 0.5% as expected. Furthermore, the Prelim UoM Consumer Sentiment\u00a0 jumped from 67.4 points to 70.4 points above 67.9 expected.USD\/MXN Technical Analysis!USD\/MXN challenges the 61.8% retracement level after registering only false breakouts through the 21.000 psychological level. The bearish pressure remains high as long as it stays under the downtrend line.Registering only a false breakdown below the 61.8% retracement level and coming back and stabilizing within the ascending pitchfork\u2019s body, above the lower median line (lml) could announce potential leg higher. Actually, a valid breakout through the downtrend line may signal that the corrective phase is over. Note: ForexSchoolOnline is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}