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LATAM FX: LATAM FX Price Signal Summary - Monitoring Support In USDMXN

LATAM FX
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  • The trend condition in USDMXN remains bullish and the pair continues to trade closer to its recent highs. Note however, that the Nov 6 pullback and the follow through on Nov 7, continues to highlight a potential short-term top. Price has traded through the 20-day EMA, exposing support at the 50-day EMA, at 19.7999. A clear breach of the 50-day EMA, would signal potential for a deeper retracement towards 19.0666, the Sep 18 low. For bulls, the latest recovery exposes resistance at 20.8072, the Nov 6 high. A breach of this hurdle would confirm a resumption of the uptrend. This would open the 21.00 handle.                                                
  • The bull cycle in USDBRL that started Sep 19 remains intact. However, a corrective phase is in play following the pullback from the Nov 1 high of 5.8750. Support to watch lies at 5.6506, the 50-day EMA. A clear breach of this level would signal scope for a deeper retracement, towards 5.5586, the Oct 11 low. A stronger reversal higher would refocus attention on key resistance and the bull trigger at 5.8750. Clearance of this level would open 5.9054, the 1.618 projection of the Aug 19 - 30 - Sep 19 price swing.          
  • A bull cycle in USDCLP remains in play and last week’s high print reinforces the current bullish trend condition. The pair has recently breached 966.61, the Aug 5 high and a key short-term hurdle for bulls. This opens 990.67, the Feb 26 high, ahead of the psychological 1000.00 handle. Initial firm support lies at 960.85 the 20-day EMA. A break would expose 946.37, the 50-day EMA.
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  • The trend condition in USDMXN remains bullish and the pair continues to trade closer to its recent highs. Note however, that the Nov 6 pullback and the follow through on Nov 7, continues to highlight a potential short-term top. Price has traded through the 20-day EMA, exposing support at the 50-day EMA, at 19.7999. A clear breach of the 50-day EMA, would signal potential for a deeper retracement towards 19.0666, the Sep 18 low. For bulls, the latest recovery exposes resistance at 20.8072, the Nov 6 high. A breach of this hurdle would confirm a resumption of the uptrend. This would open the 21.00 handle.                                                
  • The bull cycle in USDBRL that started Sep 19 remains intact. However, a corrective phase is in play following the pullback from the Nov 1 high of 5.8750. Support to watch lies at 5.6506, the 50-day EMA. A clear breach of this level would signal scope for a deeper retracement, towards 5.5586, the Oct 11 low. A stronger reversal higher would refocus attention on key resistance and the bull trigger at 5.8750. Clearance of this level would open 5.9054, the 1.618 projection of the Aug 19 - 30 - Sep 19 price swing.          
  • A bull cycle in USDCLP remains in play and last week’s high print reinforces the current bullish trend condition. The pair has recently breached 966.61, the Aug 5 high and a key short-term hurdle for bulls. This opens 990.67, the Feb 26 high, ahead of the psychological 1000.00 handle. Initial firm support lies at 960.85 the 20-day EMA. A break would expose 946.37, the 50-day EMA.