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fxAug 12, 2026, 8:39 AM

Mexican Peso Bullish Trend Resumes Against Dollar, SocGen Says

USD/MXN failed to clear its 200-day moving average, keeping downside momentum intact as it tests the lower end of a multi-month range, Societe Generale's Kenneth Broux notes.

USDMXN

The Mexican peso is extending its recent strength against the US dollar, with USD/MXN unable to overcome a key technical barrier. Societe Generale's Kenneth Broux points out that the pair failed to clear its 200-day moving average, reinforcing the bearish trend.

The pair is now attempting to break below the lower boundary of a multi-month range. Key resistance stands at 17.17, while the move opens downside objectives.

  • Resistance: 17.17
  • Downside targets: 16.65 and lower

Source: FXStreet Forex News