USDMXN Down 66 Pips Over Past Hour; is Inching Close to 50 and 200 Day Averages

Hourly Update

(Last Updated October 22, 2021 23:14 GMT)

At the time of this writing, USDMXN’s rate is down -66 pips (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 entered today at 20.23489, down 1843 pips (0.9%) from the day prior. Out of the 39 instruments in the Forex asset class, USDMXN ended up ranking 38th for the day in terms of price change. Below is a price chart of USDMXN.

USDMXN

USDMXN Technical Analysis

Notably, the current price of USDMXN is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 334.6 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 14 days.