USD/MXN Up 112 Pips Over Past Hour, Came Into Today Up For the 2nd Consecutive Day; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated January 12, 2022 1:37 GMT)

Currently, USDMXN’s rate is up 112 pips (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 50 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)

USDMXN is up 349 pips (0.17%) since the previous day (opening today near 20.40502), marking the 2nd consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, USDMXN ranked 14th the previous day in terms of percentage price change. Here is a price chart of USDMXN.

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. 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 200 day average, which is 1323.9 pips away. 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone up 5 out of the past 10 days.