(Last Updated July 23, 2021 2:14 GMT)
At the moment, USDMXN’s rate is down -141 pips (-0.07%) from the hour prior. This is the 2nd hour in a row USDMXN has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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)
After 3 up days, USDMXN snaps its streak, falling 485 pips (-0.24%) over the past day to close at an exchange rate of 20.09878. Out of the 39 instruments in the Forex asset class, USDMXN ended up ranking 30th for the day in terms of price change. Here is a price chart of USDMXN.
USDMXN Technical Analysis
Coming into today 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. Volatility for USDMXN has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Or to simplify this another way, note that out of the past 10 days USDMXN’s price has gone up 5 them.