{"id":151402,"date":"2023-09-07T14:01:40","date_gmt":"2023-09-07T08:31:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151402"},"modified":"2023-09-07T14:01:40","modified_gmt":"2023-09-07T08:31:40","slug":"well-bid-near-three-month-top-seems-poised-to-appreciate-further-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/well-bid-near-three-month-top-seems-poised-to-appreciate-further-crypto-news\/","title":{"rendered":"Well bid near three-month top, seems poised to appreciate further &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>USD\/MXN scales higher for the sixth straight day and touches a three-month high on Thursday.<\/strong><\/li>\n<li><strong>The recent breakout through the 100-day SMA and the 17.40-45 hurdle favour bullish traders.<\/strong><\/li>\n<li><strong>The slightly overbought RSI on the daily chart is seen as the only factor capping further gains.<\/strong><\/li>\n<\/ul>\n<p>The USD\/MXN pair gains strong positive traction for the sixth successive day on Thursday and jumps to over a three-month top during the early part of the European session. Spot prices, however, retreat a few pips in the last hour and currently trade near the 17.65 region, still up nearly 0.40% for the day.<\/p>\n<p>From a technical perspective, this week&#8217;s sustained move and acceptance above the 100-day Simple Moving Average (SMA), for the first time since September 2022, was seen as a fresh trigger for bullish traders. A subsequent breakout through the 17.40-17.45 strong horizontal barrier prompted some follow-through technical buying and might have already set the stage for a further near-term appreciating move.<\/p>\n<p>That said, the Relative Strength Index (RSI) on the daily chart is already flashing overbought conditions and makes it prudent to wait for some near-term consolidation or a modest pullback before placing fresh bets. Nevertheless, the USD\/MXN pair seems poised to build on its sharp rise witnessed over the past week or so and aim to challenge the very important 200-day SMA, currently around the 18.00 mark.<\/p>\n<p>The said handle coincides with a downward sloping trend-line extending from the September 2022 swing high and should act as a key pivotal point, which if cleared decisively should pave the way for additional gains.<\/p>\n<p>On the flip side, any meaningful corrective slide below the daily trough, around the 17.60-17.55 region, could be seen as a buying opportunity and remain limited near the 17.45-17.40 resistance breakpoint. This is closely followed by the 100-day SMA, around the 17.30-17.25 zone. Failure to defend the said support levels might prompt some technical selling and drag the USD\/MXN pair back towards the 17.00 round figure.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/MXN daily chart<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638296690746025801.png\"><\/a><\/p>\n<h3 class=\"fxs_headline_medium\">Technical levels to watch<\/h3>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: USD\/MXN scales higher for the sixth straight day and touches a three-month high on Thursday. The recent breakout through the 100-day SMA and the 17.40-45 hurdle favour bullish traders. The slightly overbought RSI on the daily chart is seen as the only factor capping further gains. The USD\/MXN pair gains strong positive traction for [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":86559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,276,255,250,252,247,253,249,308,871,256,254],"class_list":["post-151402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-usdmxn","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151402"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151402\/revisions"}],"predecessor-version":[{"id":151403,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151402\/revisions\/151403"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/86559"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}