USDMXN is retesting the broken triangle
USDMXN broke above the 22.30 which was the triangle resistance. We have a pullback now for the retest and a possible bounce for the continuation upside to 24. For a complete downside continuation and higher probability short trade entries, we need to see a break below 21.850. USDMXN reached previously 26.5 and pulled back to 21.5 which was almost 61.8% retracement. The overall long-term is an uptrend and a confirmed break above 23 will lead to an extended continuation to 25.
Note – We are inclined to long trade entries with the stop loss below 22
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