(Last Updated December 29, 2021 1:40 GMT)
At the moment, USDMXN’s rate is down -125 pips (-0.06%) from the hour prior. This is the 2nd hour in a row USDMXN has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100, 20 and 50 hour moving averages, resulting in them so that price is now turning below them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 entered today at 20.66209, down 326 pips (0.16%) from the previous day. Relative to other instruments in the Forex asset class, USDMXN ranked 27th the previous day in terms of percentage price change. Below is a price chart of USDMXN.
USDMXN Technical Analysis
Coming into today USDMXN is now close to its 20, 50, 100 and 200 day averages, located at 20.9447, 20.8102, 20.5058 and 20.2734 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 10 days USDMXN’s price has gone down 7 them.
The View From Around the Web
Not much commentary on USDMXN that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.
The Mexican peso has recovered against the US dollar, driven by increased risk appetite, but traders should be careful this week as low liquidity may give way to erratic and unexpected moves.