USDMXN Could Rebound Before Another Slide Lower

USDMXN remains in a clear downtrend, forming a five-wave impulsive decline from the early-year highs. The current rally appears to be a corrective Wave 4, likely targeting resistance near 18.96 and 19.33 before sellers return. As long as price stays below 19.33, the broader bearish structure remains valid, with potential continuation toward 17.62 in Wave 5.