(MENAFN- Daily Forex) The USD/MXN is near 18.36250 this morning, this as the currency pair traverses its lower near-term realms and signals to day traders who have a belief in more bearish sentiment that there may be an opportunity lower price action which developed on Friday before going into the weekend with the USD/MXN created a test of depths seen on the 9th of October. This morning\u0026rsquo;s price for the USD/MXN is near the 18.36250 ratio depending on the bids and asks seen, speculators should also be aware of the large spread in early price action as the week begins. The USD/MXN traded at a high of nearly 18.62800 on Tuesday of last week, but rapidly reversed from the high conditions have been seen in the USD/MXN like other major currency pairs. Financial institutions continue to show a high level of caution in the midst of murky conditions, this caused by rhetoric from the U.S White House regarding tariffs and the U.S government shutdown which looks like it will continue into this week unsolved. The USD/MXN\u0026rsquo;s ability to traverse lower and break below the 18.40000 mark early on Friday and sustain lows is intriguing USD/MXN Price Action EarlyThe USD/MXN does have the ability to move rather fast. This morning\u0026rsquo;s opening has shown rather solid results within the lower elements of the near-term range for the currency pair, perhaps signaling that financial institutions remain comfortable with lower depths. Day traders may believe momentum will take the USD/MXN back to values seen in early October when values below 18.31000 were being challenged rather consistently, before day traders get too optimistic about more downside and the ability to target lower support, they should understand the broad Forex market continues to show signs of rather unsteady sentiment. Choppy conditions have persisted the past couple of weeks. The U.S government shutdown is likely not the entire reason for the rather range bound choppiness. The U.S Fed is hovering in the distance. Next week\u0026rsquo;s FOMC decision from the Federal Reserve has likely seen their expected interest rate cut factored into the USD/MXN already. 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: SidebarBrokerListAmount, getStartedText: \u0060Get Started\u0060, readReviewText: \u0060Read Review\u0060, Logo: \u0027broker_carrousel_i\u0027, Button: \u0027broker_carrousel_n\u0027, });Fed Lack of Clarity Coming for the USD/MXN Next WeekThe question is what the Fed will say during their FOMC Statement. That is where things will grow very interesting, particularly if the U.S shutdown is still in effect during the meeting because the Fed\u0026rsquo;s data will be limited while making their decision next week due to the closure of U.S economic data offices and no reporting the Fed will be short on data outlooks for November and December, meaning they will likely offer a unclear picture regarding their own sentiment next week USD/MXN could remain rather choppy because of this murkiness desire by traders to seek lower depths is understandable, but they should not try to step out in front of financial institutions before the next big waves of momentum are signalled hitting targets should be used by day traders in the USD/MXN. EURUSD Chart by TradingView USD/MXN Short Term Outlook:Current Resistance: 18.37600Current Support: 18.39900High Target: 18.36030Low Target: 18.31000

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