USDMXN

(Last Updated January 12, 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

On USDMXN, we don’t see a clear trend until the 90 day basis, where we see a clear downtrend.

USDMXN Moving Averages

USDMXN’s moving averages tell a multi-facted story about its trend. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bearish, implying a downward trend, save for a jump that occurred about 3 weeks ago.

Below is a chart showing USDMXN’s price with its moving averages.

Regarding USDMXN’s correlations over the past 7 days, it has demonstrated the strongest correlation with NZDCAD. Over the past 14 days, however, USDSEK is the asset most correlated to USDMXN. Alternatively, the asset least correlated with USDMXN over the past week has been EURNOK, but if we observe the prior two weeks, EURCHF 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

Currently, USDMXN’s rate is up 654 pips (0.33%) from the week prior. Moreover, note that the weekly chart shows that USDMXN has seen 3 straight up weeks. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDMXN. Given that we see downtrend on the 20 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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. The weekly chart below shows USDMXN’s price action over the past year.

USDMXN: The Monthly View

Strongest trend on the 60 month timeframe.