The US Dollar has been flirting with breaking support at 18 for awhile and today the dollar rallied very strongly against the peso.

Technically, if we look at the weekly chart, you’ll see that the MACD crossover point has been reached. So, we should see an attempt for the dollar to strengthen further.

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Best-Performing Currency Sinks as Mexico’s Obrador Advances

As I had mentioned in my previous posts, the election of Obrador in Mexico could cause a weakening of the peso. It is odd that today we got the rally in the dollar against the peso. I has been known for a while that AMLO was the favorite to win the election, so why the sudden change? The dollar is trying to build a base to move higher, but, it has yet to break to the upside.

The spot dollar price has yet to breakout

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