The USD/MXN pair has recently crossed below the lower boundary of its multi-month trading range by showcasing signs of a potential decline. Analysts from Société Générale noted that there is an apparent risk of continuing this movement. However, there is also a possibility to reclaim the recent pivot high positioned at 20.40 if market dynamics change favorably.

Traders should be alert to the possibility of fluctuations as the USD/MXN navigates through this volatile landscape. A push above recent levels could signify renewed interest in the pair depending on market sentiment and economic fundamentals. Monitoring global economic reports and emerging trends will be crucial for making informed trading decisions in the coming days.

Stay tuned for updates as the USD/MXN outlook continues to evolve.