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18 Feb 2013
Forex: USD/MXN in red after Mexican GDP
The Mexican peso is slightly appreciating against its northern neighbour on Monday after the economic activity in Mexico expanded 0.8% QoQ during the fourth quarter and 3.2% on a yearly basis, below the median at 3.57%.
Quite interesting week ahead for MXN, as Retail Sales, Unemployment Rate and the First Half Month Inflation are due in the upcoming sessions.
As of writing, the pair is losing 0.10% at 12.6966 with the immediate support at 12.6010 (low Feb.4) followed by 12.6161 (Lower Bollinger) and finally 12.5555 (low Jan.17).
On the flip side, a break above 12.7452 (MA50d) would open the door to 12.7682 (Upper Bollinger) and 13.0600 (high Dec.24).
Quite interesting week ahead for MXN, as Retail Sales, Unemployment Rate and the First Half Month Inflation are due in the upcoming sessions.
As of writing, the pair is losing 0.10% at 12.6966 with the immediate support at 12.6010 (low Feb.4) followed by 12.6161 (Lower Bollinger) and finally 12.5555 (low Jan.17).
On the flip side, a break above 12.7452 (MA50d) would open the door to 12.7682 (Upper Bollinger) and 13.0600 (high Dec.24).