USDMXN is breaking above the falling trend line
USDMXN is breaking above the 21.800 falling trend line for the complete upside reversal. A confirmed close below the 21.300 is required for a downside reversal. For a complete bullish upside reversal breakout and higher probability long trade entries, we need to see a confirmed break above the 22.500. A break above this level would lead to an extension higher and a test of 24. The overall long-term is an uptrend and we need to see a break below 21 for a downside reversal.
Note – We are more inclined to a long trade entry with the stop loss below 21.500
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