Forex / Currencies
As expected, the peso came close to reaching the 42.70 level. It backed off on Friday but the current momentum still points in that direction.
Somehow, I’m still not convinced that this is a reversal of the current trend of the USD. The overall trend is still bearish for the USD despite the recent depreciation of the peso. The MACD is the indicator that tells me that there’s a possible bearish divergence for the USD but we’d need to let things go their course.
If we should happen to see the dollar strengthen against all currencies, expect the peso to fall to the levels of 44.00 to 44.70. But as of this moment, you can consider the whole thing to be a rally only. 
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