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Free AccessPrice Signal Summary: USDMXN Extends This Week's Gains
- USDMXN is trading higher today as it extends this week’s gains. The rally has resulted in a break of 20.1950, Apr 6 high, and price has also traded above the 50-day EMA - a bullish development. Attention is on the 38.2% Fibonacci retracement of the Mar-Apr range, at 20.3992. Clearance of this level would open 20.5975, the 50.0% retracement. Key support has been defined at 19.7274, the Apr 4 low.
- USDBRL remains in consolidation mode. The primary trend direction is unchanged and points south. The break lower on Apr 1 marked a resumption of the downtrend. 4.6000 has been probed and attention is on 4.5439 next, 1.236 projection of the Mar - Jun - Dec 2021 price swing. A key short-term resistance has been defined at 4.7933, Apr 8 high.
- USDCLP has gapped higher at today’s open. This has resulted in a break of resistance at 823.72 and confirms an extension of the current bull cycle that started on Mar 29. This has exposed 832.75, the Feb 7 high and the next key resistance point. Clearance of this level would open 840.00. Firm support has been defined at 799.53, the Apr 13 low.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.