USD/MXN Heads Down For the 2nd Day In A Row; in a Downtrend Over Past 30 Days

USD/MXN Price Recap

USD/MXN is down 494 pips (0.26%) since yesterday (with its current price near 18.8333), marking the 2nd day in a row a decline has happened. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 35.25% from the day prior, and up 22.05% from the same day the week before. Relative to other instruments in the Forex asset class, USD/MXN ranked 20th yesterday in terms of percentage price change. Here is a price chart of USD/MXN.

USD/MXN Technical Analysis

Coming into today USD/MXN is now close to its 20, 50 and 200 day averages, located at 19.0367, 19.1829 and 19.2607 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 2034 pips away. Volatility for USD/MXN has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days USD/MXN’s price has gone down 18 them.

The View From Around the Web

Not much commentary on USDMXN that we’re finding noteworthy here; are y’all just scared to put out an opinion? 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.