Forex Flash: Fundamentally, MXN looks constructive - BBH

FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman comments that from a fundamental perspective, he favours MXN.

However, technical conditions warn of a slow grind at best. He writes, “None of our technical indicators are suggesting a near-term reversal. We are, therefore, more inclined to selling into dollar bounces rather into new weakness. We see the MXN12.50-MXN12.60 as formidable resistance.”