USD/MXN Up 127 Pips in Last Hour; Crosses 20 Day Moving Average

Hourly Update

(Last Updated September 16, 2022 1:37 GMT)

Currently, USDMXN’s rate is up 127 pips (0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 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)

The back and forth price flow continues for USDMXN, which started today off at 20.06, up 1180 pips 0.59% from the previous day. Compared to its peers in the Forex, USDMXN gave its buyers a return that ranked 8th in terms of percentage change since the previous day. The price chart of USDMXN below illustrates.

USDMXN

USDMXN Technical Analysis

First things first: USDMXN crossed above its 20 day moving average yesterday. 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 482.5 pips away. Or to simplify this another way, note that out of the past 14 days USDMXN’s price has gone down 8 them.