(MENAFN- Daily Forex) The USD/MXN has traded lower early today and continued selling since touching a high on Friday around the 17.28000 level, but the results have not come easily in the USD/MXN the past week has been volatile. After touching a low of nearly 16.90350 last Tuesday and then hovering around lows last Wednesday, the currency pair then traded upwards and reached an apex around 17.39065 on Thursday, the price of the USD/MXN has sold off the past couple of days, but day traders of the currency pair have certainly had to deal with rapid fluctuations USD/MXN is correlating to the broad Forex market early this morning as the USD has shown some weakness. However the knowledge that the USD/MXN has attracted plenty of bearish sentiment over the long-term also adds to feeling that some speculators may believe more selling is going to be delivered. However, trading results from last week serve as a reminder that volatility is a constant potential companion when involved in Forex speculation.U.S Federal Reserve and the Potential of More USD/MXN TurbulenceThe ability of the USD/MXN to traverse lower and hover near the 17.12800 mark as of this writing with quick changes in value being seen is interesting. Financial institutions are likely trying to position before the U.S Fed\u0026rsquo;s FOMC meeting announcements this coming Wednesday change to the Federal Funds rate is going to happen via the U.S central bank, but traders want to hear what the Fed\u0026rsquo;s outlook is for monetary policy. The notion the Federal Funds Rate may remain unchanged over the next handful of months has many Forex players anxious because of the turbulence which has been already seen and will likely continue to develop over the mid-term. The USD/MXN level of 17.00000 below may look enticing, but traders need to stay realistic if they are using leverage which could cause fatal blows if trading direction goes the wrong way or fluctuates too fast. Top Forex Brokers 1 Get Started 74% of retail CFD accounts lose money Read Review BrokerGeoLists({ type: \u0027MobileTopBrokers\u0027, id: \u0027mobile-top-5\u0027, size: 5, getStartedText: \u0060Get Started\u0060, readReviewText: \u0060Read Review\u0060, });Lower Moves and Speed Limits for the USD/MXNThe move lower in the USD/MXN has been likely anticipated by many bearish traders of the currency pair, but the question of price velocity may cause nervousness. The speed of the move lower in the past two days has not been overwhelming, but as important psychological ratios below come into sight, some traders may be tempted to bet wildly on movement which may be difficult to achieve as the U.S Federal Reserve shadow lingers.\u0026middot; Traders should look for quick hitting bets in the short-term and be on the lookout for price -action reversals.\u0026middot; Choppy conditions may linger into Wednesday as financial institutions brace for the rhetoric from the Fed\u0026rsquo;s Jerome Powell.\u0026middot; Until then the USD/MXN may have a wide range with sudden bounces if the currency pair is not in an acceptable equilibrium due to mixed sentiment/MXN Short Term Outlook:Current Resistance: 17.13250Current Support: 17.11970High Target: 17.16740Low Target: 17.06880
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