USD/MXN Price Forecast: Bears eye 17.00 as downtrend stretches

USD/MXN is extending a 14-day downtrend, trading just below 17.05 after the Mexican peso reached a 24-month low near 17.01. The pair remains under pressure as softer U.S. consumer and producer inflation data weigh on the dollar. Technically, the slide below the 50- and 100-day SMAs has reinforced a bearish structure of lower highs and lower lows, with 17.00 seen as a critical support level. A decisive break lower could expose 16.52, 16.26, and then 16.00. However, RSI signals the downtrend may be losing momentum, raising the possibility of near-term consolidation or even a reversal if USD/MXN reclaims 17.38 and 17.40. The setup suggests the pair is at an important inflection point, with bearish momentum still dominant but increasingly stretched.