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Figure Heloc 
USD/MXN has rebounded after touching 18.20, but the pair faces resistance at the 50-DMA and descending trend line near 18.40, leaving upside momentum uncertain, Société Générale’s FX analysts note.
💡 DMK Insight
USD/MXN’s bounce from 18.20 is intriguing, but resistance at 18.40 could cap gains. With the 50-DMA and a descending trend line converging around this level, traders should be cautious. If the pair fails to break above 18.40, we might see a pullback, especially if broader market sentiment shifts. Keep an eye on economic indicators from both the U.S. and Mexico, as they could influence this pair’s trajectory. A failure to maintain momentum could lead to a retest of the 18.20 support, while a breakout above 18.40 could open the door to higher targets. Watch for volume spikes around these levels, as they could signal the strength of any breakout or reversal.
📮 Takeaway
Monitor USD/MXN closely; a break above 18.40 could signal a bullish shift, while failure to hold above 18.20 may prompt a retracement.
