USD/MXN breaks lower as 50-DMA caps rebound – Société Générale
USD/MXN has broken below its recent consolidation after failing to clear the 50-day moving average, bringing the July 2024 low near 17.60 into focus. Although momentum indicators hint at positive divergence, the lack of a clear reversal keeps downside risks intact, with resistance seen near 18.00 and lower targets at 17.30-17.15, Société Générale's FX analysts note.
USD/MXN near key support despite MACD divergence
"USD/MXN struggled to cross the 50‑DMA during its latest rebound attempt and gradually broke below the lower bound of its brief consolidation range. The daily MACD has been posting positive divergence however clear signals of a price reversal have yet to materialize."
"The pair is now approaching the July 2024 low near 17.60. Should a short-term bounce occur, the steeper descending trend line drawn from last April near 18.00 could act as resistance. The next objectives are located at projections of 17.30/17.15."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
WTI falls below $85.50 as US-Iran diplomacy hopes rise
Warner's consolidated financial statements reshape performance! Hollywood super giant Skydance (SKYD.US) Q3 core streaming media revenue surges 21%, first half consolidated revenue doubles
Earlier in early October, Paramount's Skydance completed a massive $110 billion acquisition of Warner Bros. Discovery (WBD). The newly merged company was officially named "Skydance," marking the emergence of a brand-new Hollywood giant.
Q3 Revenue Surges Nearly Twofold! AST SpaceMobile (ASTS.US) Accelerates “To the Skies”: 45 Satellites On Orbit by Mid-2027
Satellite direct-to-mobile broadband company AST SpaceMobile (ASTS.US) experienced a nearly twofold year-on-year increase in revenue for the third quarter of 2026, and intensively disclosed major developments across the entire chain, covering "manufacturing—launch—financing—commercialization."
Turning loss into profit with bitcoin gains: MARA (MARA.US) Q3 net profit hits $632 million, but revenue drops 35% to a nine-quarter low
Bitcoin mining company MARA Holdings (MARA.US) released its financial report for the third quarter of 2026. The report presents a rare split scenario: a surge in book profits alongside a continuous decline in operating income—indicating the company is at a critical turning point from "Bitcoin mining" to "AI infrastructure."
Crypto prices
More
