Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
USD/RUB and USD/MXN: bouncing downwards
Information is not investment advice
Do you notice the similarity between these two charts? As both currencies are equally weak against the USD, the Russian ruble and the Mexican peso are following almost identical patterns.
For both, we have local resistance that sent the price downwards. For USD/RUB – it’s at 75.60; for USD/MXN – 20.20. Now, both are likely to go downwards aiming at local support levels: with the ruble, it’s 73.00, with the peso – 19.55. At least, meeting the Moving Averages that all are converging down below seems the most probable short-term scenario for USD/RUB and USD/MXN.
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