USD/MXN rises on reports Trump could order Mexico Border Wall

Mexican Peso is being offered in Asia after NY times report said President Trump could order construction of the Wall on Mexico Border today.

USD/MXN extended Tuesday’s gain to print a session high of 21.5664. Moreover, the pair has moved back above the double top neckline level of 21.4611 that was breached on Monday.

Meanwhile, the dollar side of the story is looking strong as well given the rally in the US stocks to record highs on Tuesday.

USD/MXN Technical Levels

A break above 21.63 (10-DMA) would open doors for 22.0372 (Jan 11 high). On the other hand, a failure to hold above 21.4611 would shift risk in favor of a drop to 21.2508 (previous day’s low).