USD/MXN: Scope to extend the gradual decline to the 2017 low at 17.4395 – Credit Suisse USDMXN Banks
USD/MXN is seeing a gradual grind lower, which analysts at Credit Suisse think is likely to extend to 18.5155/17.4395.“With the USD having peaked, we think the broader risk is likely to stay mildly lower during Q1 of 2023 and we thus see scope to extend the gradual decline to the 2020 low at 18.5155, where we think a potentially tougher support is likely to be found. Should this also break, next key support is identified at 17.4395 the 2017 low.
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