INSUBCONTINENT EXCLUSIVE:
The US dollar rebounded against the Mexican peso over the last 24 hours, breaking a multi-day losing streak and signaling a possible shift
in short-term sentiment.According to official FXCM and TradingView data, USD/MXN climbed from 18.88 to 19.05 during the Thursday session and
strong run, which saw the currency hit 18.83 per dollar on June 11, its strongest since August 2024
The reversal began late Thursday, with the dollar regaining ground.It closed above the psychologically important 19.00 mark for the first
Price action in the last 24 hours shows a low of 18.86 and a high of 19.07, confirming increased volatility and a decisive change in
direction.Technical indicators on the daily chart support this view
The Relative Strength Index (RSI) has bounced from near-oversold levels, moving from 38 to 41, suggesting the recent selling pressure has
eased.Dollar Recovers Against Mexican Peso as Technicals Hint at Short-Term Shift
(Photo Internet reproduction)The Moving Average Convergence Divergence (MACD) histogram, while still negative, shows a clear reduction in
bearish momentum, with the signal and MACD lines converging.Bollinger Bands, which had been expanding as the peso strengthened, now show
price rebounding from the lower band, indicating a potential mean reversion.The four-hour chart provides further confirmation
The RSI surged above 55, moving out of oversold territory and signaling renewed buying interest in the dollar.The MACD on this timeframe
crossed above its signal line, which often precedes short-term trend changes
Volume also picked up during the reversal, adding weight to the move.Fundamental factors remain mixed
expectations.No large ETF inflows or outflows were reported, suggesting the move was driven by spot market activity rather than
introduces uncertainty into the near-term outlook.Technical signals point to a possible short-term correction higher for USD/MXN, but the
Market participants now watch for follow-through and confirmation of this shift as the week closes.
