USDMXN Up 69 Pips On Hourly Chart, Came Into Today Up For the 3rd Day In A Row; Breaks Above 20 Day Average

Hourly Update

(Last Updated May 14, 2021 0:15 GMT)

At the time of this writing, USDMXN’s rate is up 69 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Of note is that the 100 hour changed directions on USDMXN; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 up 1865 pips (0.93%) since the previous day (opening today near 20.14915), marking the 3rd day in a row it has gone up. Compared to its peers in the Forex, USDMXN gave its buyers a return that ranked 5th in terms of percentage change since the previous day. Below is a price chart of USDMXN.

USDMXN

USDMXN Technical Analysis

Notably, USDMXN crossed above its 20 day moving average yesterday. 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 871.8 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days USDMXN’s price has gone up 9 them.