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Forex: USD/MXN keeps the tone around 12.3800

FXstreet.com (Barcelona) - The Mexican peso is extending its intraday decline against the greenback, despite the strong gains posted by the Mexican retail sales. In fact, sales rose 2.1% on a monthly basis, taking the annual expansion to 1.8%.

In the US, the flash Manufacturing PMI rose to 54.9 in March and the Philadelphia Fed manufacturing index followed suit to 2.0

At the moment, the pair is up 020% at 12.3742 facing the next resistance at 12.4631 (Upper Bollinger) ahead of 12.5525 (high Mar.12).
On the downside, a dip beyond 123680 (low Mar.20) would bring 12.3126 (Lower Bollinger).

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