Rates are expected to remain unchanged 4%
The Bank of Mexico is expected to keep the rates unchanged 4% when they announce their decision at the top of the hour. However, there are a number of analysts who do expect a cut of 25 basis points to 3.75%.
Looking at the hourly chart, the price is trading just below its 100 hour moving average at 20.7307. The 200 hour moving averages at 20.6369. At the high price yesterday, the price tested the 50% midpoint of the range since the March 8 high at 20.9556. Above that sits the 200 day moving average at 21.079.