USD/MXN to head back higher toward the 21.60 March high – SocGen

USD/MXN has staged a pullback after probing 20.90 last week. Nonetheless, economists at Société Générale expect the pair to retake its march forward to the March peak of 21.60.

Downside limited

“A large down move is not envisaged; 20.00 and recent low at 19.85 are near-term supports.”

“The up move could persist towards 20.90 and March peak of 21.60.”