(Last Updated June 13, 2022 1:35 GMT)
At the moment, USDMXN’s rate is up 572 pips (0.29%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 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 up 2777 pips (1.41%) since the day prior (opening today near 19.9591), marking the 2nd straight day an upward move has occurred. Compared to its peers in the Forex, USDMXN gave its buyers a return that ranked 2nd in terms of percentage change since the day prior. The price chart of USDMXN below illustrates.
USDMXN Technical Analysis
First things first: USDMXN crossed above its 20 day moving average yesterday. 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 30 days USDMXN’s price has gone down 17 them.