USD/MXN Up 155 Pips Over Past Hour, Moves Down For the 3rd Straight Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated December 27, 2021 1:36 GMT)

At the moment, USDMXN’s rate is up 155 pips (0.08%) from the hour prior. USDMXN has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 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 258 pips (0.13%) since the day prior (opening today near 20.60059), marking the 3rd straight day a decline has happened. Out of the 39 instruments in the Forex asset class, USDMXN ended up ranking 25th for the day in terms of price change. The price chart of USDMXN below illustrates.

USDMXN

USDMXN Technical Analysis

Notably, USDMXN is now close to its 20, 50, 100 and 200 day averages, located at 21.0327, 20.7961, 20.4938 and 20.2737 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. Or to simplify this another way, note that out of the past 10 days USDMXN’s price has gone down 6 them.