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LatAm FX Price Signal Summary: USD Remains Softer

EMERGING MARKETS
  • USDMXN remains closer to recent lows following the pullback from 21.6357, Mar 8 high. The move lower is considered a correction with support seen at 20.5524, the Mar 3 low. 21.6357 is key resistance and the bull trigger.
  • USDBRL remains on the back foot following this week's sharp move lower.
    • Support lies at 5.5450, Mar 4 low has been breached.
    • A deeper pullback would open 5.4712, the 50-day EMA.
    • Note that trendline support drawn off the Dec 14 low intersects at 5.4686.
    • On the upside, key resistance and the bull trigger has been defined at 5.8743, the Mar 9 high.
  • USDCLP gains have stalled at 743.10, Mar 8 high and the pair is trading at recent lows. A deeper pullback would risk a move towards support at 699.19, Feb 24 low. Key resistance and the bull trigger has been defined at 743.10, Mar 8 low.

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