(Last Updated December 30, 2021 1:39 GMT)
Currently, USDMXN’s rate is down -84 pips (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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 is down 880 pips (0.43%) since the day prior (opening today near 20.5741), marking the 2nd day in a row it has gone down. Relative to other instruments in the Forex asset class, USDMXN ranked 37th the day prior in terms of percentage price change. Let’s take a look at 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. 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. For additional context, note that price has gone down 16 out of the past 30 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for USDMXN; just 0 sell signals and 1 buy signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
It can return to 21.5, it is in good support. The VIX is also falling near a support, when it rebounds so does this asset.