Mexican Peso Much Stronger Than You think

The Mexican Central Bank is increasing its rate due to its high inflation.
Mexico has a trade surplus that will grow due to weakened currency.
The Mexican Peso weakened off fears of what Trump will do and not something concrete.
It is a Carry Trade.

Read more about the fundamentals of this position here.

Technically the 20 MA is crossing below the 50 MA a very popular bearish signal.
It has been in a downtrend since reaching its top.