Looks like price may fade upon reaching above the 20-day moving average as per this article.
Bank of Mexico acquired $340 million from holders of foreign-exchange put options on Dec. 21, 2010, The Wall Street Journal reports. The options are a means for the central bank to accumulate international reserves, which rose by $849 million last week to $111.89 billion. The bank auctions put options worth $600 million each month. The banks holding the put options have the right to sell it when the peso strengthens beyond its 20-day moving average.
http://www.emii.com/Articles/2740602...t-Options.aspx
Bank of Mexico acquired $340 million from holders of foreign-exchange put options on Dec. 21, 2010, The Wall Street Journal reports. The options are a means for the central bank to accumulate international reserves, which rose by $849 million last week to $111.89 billion. The bank auctions put options worth $600 million each month. The banks holding the put options have the right to sell it when the peso strengthens beyond its 20-day moving average.
http://www.emii.com/Articles/2740602...t-Options.aspx