USDMXN is forming a bullish flag
USDMXN is supported by the 22.300-22.500 zone. Upside extension from here could lead to a test of 24 for a bullish flag breakout. Downside invalidation will come only on a daily close below 21.800. A bounce here will be valid for a high probability long trade entry. Since the pair is strongly correlated with the DXY and SPX bigger risk-off rally will trigger a strong continuation higher.
Note – Look for the long trade with the stop loss below 22
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