January 7, 2020
By: Paul Robinson
- USD/MXN big-picture triangle broke to end 2019
- A drop through 18.7433 need to give conviction
To end 2019, USD/MXN broke out of the three-year-long triangle it had been building as a result of declining volatility. The break so far has held minimal velocity which could change quickly if last year’s low at 18.7433 is broken. The lack of momentum could also mean we are in for a ‘fake-break’.