Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

USDMXN lower after the leaked (by the Mexican President) 50 basis point hike

A.R Chowdhury by A.R Chowdhury
March 24, 2022
Reading Time: 2 mins read
0
USDMXN lower after the leaked (by the Mexican President) 50 basis point hike

The 50 basis point rate hike by the Bank of Mexico was as expected especially after the Mexican President inadvertently leaked it this morning.

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

Nevertheless, the USDMXN is trading to new lows for the day. So at least the market saved a little reaction it seems.

Looking at the daily chart, the USDMXN is, moving below the recent swing lows going back to October 26 at 20.161. The move to the downside today also took out the swing lows from February at 20.1545, and the swing low from yesterday which tested that February low level (the low reached just below that level) at 20.1529 (see red numbered circles in the chart below). The 20.1545 level will now be close resistance for traders looking for more downside. Stay below and the bears remain in full control

USDMXN

Drilling down into the hourly chart, the MXN has been trending to the downside since breaking below its 100 hour moving average back on March 9, the pair traded up and down below the 100 hour moving average until March 15 when the price started to accelerate more to the downside.

The USDMXN price has not traded above its 100 hour moving average since the break on March 9. The current 100 hour moving average comes in at 20.2882.

Should the price get back above the 20.1545 in the short term, traders will look toward that 100 hour moving averages the next key barometer. Stay below keeps appears still more in play. Move above and there will be a shift in the short term trading bias.

USDMXN

USDMXN stays below the 200 day moving average
ADVERTISEMENT – CONTINUE READING BELOW

Source link

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post
GBPUSD chopped up and down in trading today with a defined ceiling

GBPUSD chopped up and down in trading today with a defined ceiling

USDJPY trades at highest level since December 18, 2015 and enters into a new swing area

USDJPY trades at highest level since December 18, 2015 and enters into a new swing area

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

EURUSD back below the 100 hour moving average as the dollar swings around

August 28, 2020

EURUSD moves up to test MAs and retracment levels

August 24, 2020

US dollar rises as flows head out of currencies

June 16, 2020

Popular Stories

  • New highs for US stocks. The Nasdaq continues to lead

    New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
  • Bitcoin technical analysis, bulls might be giving up soon

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.