Looking for an 8% decline on USD/MXN

After an impulsive move up on the USDMXN, I'm looking for a (relatively) modest retrace to the top of the previous range on the USD/MXN. This is an 8% decline. But as you can see on the chart, the decline is modest relative to the move up we just had.

> This retrace I'm looking for is in confluence with general dollar weakness following a 6T liquidity stimulus, an inflationary event, which the FED just pumped into the credit/repo market.