📝USD/MXN Looks Offered On U.S. Election Unwinds: UBS Strategy

USD/MXN broke 19.89 and saw a quick gap down towards 19.82. The desk sees 19.89 as a likely trigger for some CTAs to cut USD/MXN longs. The next signal level below looks to be 19.695. Price action looks detached from fundamentals as the market unwinds US election hedges and positions. - UBS Strategy