USD/MXN 2 Day Down Streak Broken; in a Downtrend Over Past 90 Days

USD/MXN Price Recap

18.558801 (USD) was the opening price of the day for USD/MXN, resulting in yesterday being a day in which price moved up 226 pips 0.12% from the day prior. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 57.77% from the day before — and down 69.38% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/MXN ended up ranking 9th for the day in terms of day-over-day price change. Here is a price chart of USD/MXN.

USD/MXN Technical Analysis

Coming into today USD/MXN is now close to its 20 and 50 day averages, located at 18.705 and 18.8312 respectively, and thus may be at a key juncture along those timeframes. Related to the moving average crossover is that USD/MXN may have broken its trend on the 14 day basis, as the trend’s momentum appears to be slowing down. Volatility for USD/MXN has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 7 out of the past 10 days.

The View From Around the Web

Not much commentary on USDMXN that we’re finding noteworthy here; are y’all just scared to put out an opinion? 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

https://t.me/Morocco_FX✔️ 1 Signal Daily Free✔️ 2 Technicals Analysis Daily