USD/MXN Down 112 Pips Over Past Hour, Entered Today Down For the 2nd Straight Day; Crosses 200 Day Moving Average

Hourly Update

(Last Updated August 5, 2022 1:37 GMT)

At the moment, USDMXN’s rate is down -112 pips (-0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour 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 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly 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 End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDMXN is down 1300 pips (0.64%) since yesterday (opening today near 20.326), marking the 2nd straight day a decline has happened. Compared to its peers in the Forex, USDMXN gave its buyers a return that ranked 33rd in terms of percentage change since yesterday. Here is a price chart of USDMXN.

USDMXN

USDMXN Technical Analysis

Notably, USDMXN crossed below its 200 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 1014.6 pips away. It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days USDMXN’s price has gone up 15 them.