USDMXN Down 46 Pips in Last Hour; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated April 27, 2021 2:15 GMT)

Currently, USDMXN’s rate is down -46 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 entered today at 19.8768, up 494 pips (0.25%) from the day prior. Compared to its peers in the Forex, USDMXN gave its buyers a return that ranked 14th in terms of percentage change since the day prior. Here is a price chart of USDMXN.

USDMXN

USDMXN Technical Analysis

The first thing we should note is that USDMXN is now close to its 20 and 100 day averages, located at 20.1013 and 20.2199 respectively, and thus may be at a key juncture along those timeframes. 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 2244.9 pips away. 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. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 9 out of the past 14 days.