Mexican Peso is silent in Asia patiently awaiting the third and final US Presidential debate. USD/MXN was last seen trading around 18.5266 levels.
Will Peso extend two-day winning streak?
USd/MXN was offered (MXN bid) heavily in the last two trading days after the latest poll showed Clinton having a 9 point lead over Trump. Whether or not the Peso would extend its two-day winning streak depends largely on the outcome of today’s poll.
Trump is heading into the poll on the back foot; hence even the slightest of an edge for Trump could spell trouble for the Mexican Peso. On the other hand, Clinton’s victory could yield a drop to 200-DMA level of 18.38 levels.
USD/MXN Technical Levels
A break below 200-DMA level of 18.38 could yield a further sell-off to 18.2578 (Sep 6 low). On the higher side, breach of immediate resistance at 18.6896 (previous day’s high) would open doors for 18.909 (50-DMA).