Trades above its 200 day moving average for the 2nd consecutive day
The USDMXN is higher for the 4th straight day as higher US interest rates are weighing on emerging-market currencies.
The currency pair has risen 4.1% in 4 days.
The price on Friday moved above and closed above its 200 day moving average at 21.1638. The high price reached to 21.6325. The close on Friday was at 21.2828. The current price trades at 21.4154. Stay above the 200 day moving average is more bullish. The next key target on the daily chart comes in at the 38.2% retracement of the move down from the April 2020 high at 21.92129
