USDMXN Up 105 Pips Over Past Hour, 2 Day Down Streak Snapped; Crosses 20 Day Moving Average

Hourly Update

(Last Updated January 4, 2021 2:15 GMT)

Currently, USDMXN’s rate is up 105 pips (0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Of note is that the 100 hour changed directions on USDMXN; it is now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDMXN End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USDMXN, which started today off at 19.944211, up 632 pips 0.32% from the previous day. Compared to its peers in the Forex, USDMXN gave its buyers a return that ranked 11th in terms of percentage change since the previous day. Below is a price chart of USDMXN.

USDMXN

USDMXN Technical Analysis

Notably, USDMXN crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days USDMXN’s price has gone down 17 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDMXN; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

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