200 bar MA on the 4-hour chart tested
The Bank of Mexico raised rates by 0.25% yesterday and the move (and comments) helped to nudge the price away from its 100 bar MA on the 4-hour chart (blue line) and also away from a trend line from the April low. The price did stall near the swing levels in the 20.216-20.244 area.
If the momentum continues, the 38.2% at 19.80336 will be the next target.
Holding, and the “break” area above will be eyed…
I expect some profit taking here from the shorts.