2. Technical forecasting 1. 2. California Co must pay 19 million Mexican pesos by tomorrow, in exchange for supplies that it has agreed to purchase from a supplier in Mexico. The peso depreciated today against the dollar by 4 percent. Using time series data of past currency fluctuations, California observes whenever the peso depreciates against the dollar by more than 1 percent, there is a reversal whereby the peso then appreciates by 60 percent of that change on the following day. Given the results of the forecasting by California Co, the firm will most likely decide to Given the results of the forecasting by California Co, the firm will most likely decide to technical fundamental Given the results of the forecasting by California Co, the firm will most likely decide to make its payment tomorrow instead of today make its payment today instead of tomorrow