USD/MXN Down 6 Pips Over Past Hour, 2 Day Up Streak Broken; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated June 3, 2022 1:37 GMT)

Currently, USDMXN’s rate is down -6 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDMXN has now gone down 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 19.54363, down 1663 pips (0.84%) from the day prior. Compared to its peers in the Forex, USDMXN gave its buyers a return that ranked 37th in terms of percentage change since the day prior. Here is a price chart of USDMXN.

USDMXN

USDMXN Technical Analysis

Notably, the current price of USDMXN is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 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 18 them.