USD/MXN Down 281 Pips in Last 4 Hours, Moves Down For the 3rd Day In A Row; in a Downtrend Over Past 14 Days

USD/MXN 4 Hour Price Update

Updated June 03, 2020 01:22 AM GMT (09:22 PM EST)

The choppiness in the recent four-hour candle price action of USD/MXN continues; to start the current 4 hour candle, it came in at a price of 21.7284, down 281 pips (0.13%) since the previous 4 hours. Out of the 37 instruments in the Forex asset class, USD/MXN ended up ranking 31st for the four-hour candle in terms of price change.

USD/MXN End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/MXN is down 436 pips (0.2%) since the previous day (opening today near 21.73649), marking the 3rd day in a row a decline has happened. Compared to its peers in the Forex, USD/MXN gave its buyers a return that ranked 38th in terms of percentage change since the previous day. Below is a price chart of USD/MXN.

USD/MXN Technical Analysis

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 100 day average, which is 6938.6 pips away. 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 down 20 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much commentary on USDMXN that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

Mexican Peso surged more than 15% against the US Dollar with USD/MXN breaking to multi-monthly lows today. Here are the levels that matter on the technical charts.