The Peso Leads the Charge

From the Desk of Ian Culley @IanCulley

It’s time to short the USD. 

Based on the weight of the evidence, our bias for the US dollar has flipped bearish. 

Our first shot at betting on a weaker dollar was successful, as the EUR/USD hit its target earlier in the month. That’s encouraging!

But it’s important to note most dollar pairs are running into logical levels of support or resistance.

Many of these charts are messy at best.

Except the Mexican peso.

In fact, no currency has stood its ground during the dollar's parabolic advance like MXN.