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fxJun 26, 2026, 11:38 AM

Mexican Peso Weakens as Banxico Pauses, Societe Generale Says

Societe Generale strategists note USD/MXN has held key lows near 17.10 and is attempting to break out from a small base formation, with initial resistance at the 200-day moving average around 17.80.

USDMXN

Societe Generale strategists highlight that the Mexican Peso is under pressure after Banxico's decision to pause its rate hiking cycle. According to their technical analysis, USD/MXN has held key lows near 17.10 and is now attempting to break out from a small base formation.

Initial resistance stands at the 200-day moving average around the 17.80 level. A recent low was recorded at 17.30, which may act as near-term support. The breakout attempt suggests potential further upside for the pair if resistance is cleared.

Source: FXStreet Forex News