USDMXN

(Last Updated April 15, 2021)

Welcome to the news page for USDMXN (USDMXN). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for USDMXN

The Trend

As for trends on USDMXN, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.

USDMXN Moving Averages

USDMXN’s moving averages suggest the trend on a number of time horizons is bearish. Moreover, today we saw the 100 moving average turn bearish.

The chart below illustrates.

As for assets in the Forex asset class USDMXN has been correlated to over the past week, it has been most correlated with GBPJPY. Over the past 14 days, however, USDZAR is the asset most correlated to USDMXN. On the flip side, ZARJPY has been the asset least correlated with USDMXN — but over the past two weeks, AUDCAD has been the asset least correlated with USDMXN. The chart below illustrates USDMXN against its least correlated assets.

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The View From the Weekly Timeframe

At the time of this writing, USDMXN’s rate is down -698 pips (-0.35%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as USDMXN has now gone down 4 of the past 5 weeks. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. USDMXN’s weekly price action over the past 52 weeks can be seen via the chart below.

USDMXN: The Monthly View

Clearest trend on the monthly is apparent at the 120 month timeframe.