USDMXN Up 30 Pips Over Past Hour, Makes Big Move Relative to Past Month; 2 Day Down Streak Broken

Hourly Update

(Last Updated January 8, 2021 3:16 GMT)

At the moment, USDMXN’s rate is up 30 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 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 entered today at 20.004479, up 3575 pips (1.82%) from yesterday. Compared to its peers in the Forex, USDMXN gave its buyers a return that ranked 2nd in terms of percentage change since yesterday. Let’s take a look at price chart of USDMXN.

USDMXN

USDMXN Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDMXN crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 7 out of the past 14 days.