Bearish Wedge, Possible Bullish Break out to 18.80
USD/MXP has been bearish since the beginning of June. Mexican election results seem to favor a possible trend change for the peso but more importantly, the US dollar is beginning to suffer amid investors uncertainty regarding the escalating trade war president Trump is raising with Europ and China. Today we are seeing the top edge of the bearish wedge tested around 18.70. Possible bulish break out to 18.80 if the top of the trend does not hold down the price. I see a strong floor at 18.66.
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