USDMXN

(Last Updated September 21, 2020)

Hello! This is the news page for USDMXN. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

On USDMXN, there is currently a downtrend on the 90, 30 and 14 day timeframes.

USDMXN Moving Averages

The moving averages on USDMXN summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bearish, suggesting the trend is generally downward, save for a jump that occurred about 6 months ago.

The chart below illustrates.

Regarding USDMXN’s correlations over the past 7 days, it has been most correlated with TRYJPY. USDMXN has been most correlated with TRYJPY over the past 14 days also, so this may be a recurring pattern. On the flip side, the asset least correlated with USDMXN over the past week has been USDCAD, but over the past two weeks, the asset least correlated with USDMXN has been EURAUD. The chart below illustrates USDMXN against its least correlated assets.

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The View From the Weekly Timeframe

At the moment, USDMXN’s rate is down -0.1454 (-0.68%) 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. As for the trend on the weekly timeframe, we see the clearest trend on the 10 week timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 week moving average, resulting in them with price now being below it. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. USDMXN’s weekly price action over the past 52 weeks can be seen via the chart below.