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USD/MXN Analysis Today 13/01: Highs Return, Anxiety (Chart)
(MENAFN- Daily Forex)
- The USD/MXN is trading a trace below the 20.80000 level as the currency pair has returned to its upper levels. Friday's buying of the USD/MXN and early this morning's results shows a clear challenge to values traversed since the first week of November 2024. Nervousness in global financial institutions has become rather anxiety packed, and retail traders should be careful about betting against the upwards movement in the near-term.
- Wagering on lower trends to emerge suddenly in the USD/MXN may feel tempting, but speculators should be careful about betting against the nervous trend short-term. Careful risk taking tools should be used and volatility in the USD/MXN over the next few days will likely be seen.
- Current Resistance: 20.79200 Current Support: 20.78400 High Target: 20.82900 Low Target: 20.72500

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