USDMXN Up 78 Pips in Last Hour, Underperforms All Forex; Makes Big Move Relative to Past Month

Hourly Update

(Last Updated January 7, 2021 2:15 GMT)

Currently, USDMXN’s rate is up 78 pips (0.04%) from the hour prior. This is the 2nd consecutive hour USDMXN has seen its price head up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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 down 2413 pips (1.21%) since the day prior (opening today near 19.647), marking the 2nd straight day a decline has happened. On a relative basis, USDMXN was the worst performer out of all 40 of the assets in the Forex asset class. The price chart of USDMXN below illustrates.


USDMXN Technical Analysis

The first thing we should note is that USDMXN is now close to its 20 day averages, located at 19.9361 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days USDMXN’s price has gone down 6 them.