USD/MXN Up 239 Pips in Last Hour, Moves Down For the 2nd Day In A Row; Nears 200 Day Moving Average

Hourly Update

(Last Updated January 14, 2022 1:39 GMT)

Currently, USDMXN’s rate is up 239 pips (0.12%) 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. As for the trend on the hourly timeframe, we see the clearest trend 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)

USDMXN is down 491 pips (0.24%) since the day prior (opening today near 20.31209), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, USDMXN ranked 26th the day prior in terms of percentage 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 moving averages, which may act as price barrier for the asset. 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 200 day average, which is 376.6 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Volatility for USDMXN has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days USDMXN’s price has gone up 5 them.