USDMXN Down 67 Pips in Last Hour, Outperforms All Forex; Makes Big Move Relative to Two Week Trend – CFD Trading

Hourly Update

(Last Updated April 30, 2021 4:15 GMT)

At the moment, USDMXN’s rate is down -67 pips (-0.03%) from the hour prior. This is the 2nd hour in a row USDMXN has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDMXN End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDMXN entered today at 20.0377, up 1415 pips (0.71%) from the previous day. For context, observe that the previous day was noteworthy in the sense that USDMXN bested all 39 of the assets in the Forex class. The price chart of USDMXN below illustrates.

USDMXN

USDMXN Technical Analysis

First things first: 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 20 day average, which is 28.9 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 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 17 out of the past 30 days.

The View From Around the Web

Not much commentary on USDMXN that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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