USD/MXN Up 117 Pips in Last Hour, 3 Day Down Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated December 28, 2021 1:40 GMT)

Currently, USDMXN’s rate is up 117 pips (0.06%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDMXN has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 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, which opened today priced near 20.6947, is up 941 pips 0.46% since the day prior, marking a reversal from the day prior — and the end of a 3 day negative run. Relative to other instruments in the Forex asset class, USDMXN ranked 11th the day prior in terms of percentage price change. Let’s take a look at price chart of USDMXN.

USDMXN

USDMXN Technical Analysis

Notably, USDMXN is now close to its 20, 50, 100 and 200 day averages, located at 20.984, 20.8016, 20.5 and 20.2742 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 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 15 out of the past 30 days.