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LATAM FX: Price Signal Summary - USDCLP Bounce Extends

LATAM FX
EM BulletBulletGlobalEmerging Market NewsRegion
  • A bullish theme in USDMXN remains intact and the pair is trading closer to its most recent highs. Attention is on the 20.00 handle that was pierced early August. A clear break of it would open 20.7642, the 76.4% retracement of the bear leg between Nov ‘21 and Apr this year. The bull trigger is 20.2181, the Aug 5 high. Support to watch lies at the 50-day EMA, at 18.7879. Initial support is at the 20-day EMA, at 19.3172.                                           
  • Bullish conditions in USDBRL remain intact. The recovery from 5.3768, the Aug 19 low, is a positive development. Sights are on 5.7422, the 76.4% retracement of the Aug 5 - 19 downleg. A break would expose 5.8551, the Aug 5 high and the bull trigger. Firm support to watch is 5.5135, the 50-day EMA. Key support lies at 5.3768.
  • USDCLP is trading higher this week, marking an extension of the recovery that started Aug 26. The pair is through both the 20- and 50-day EMAs and attention is on the next resistance at 940.53, the Aug 16 high. A break of this level would strengthen a bullish theme and undermine the recent bearish one. A break would open 953.93, the Aug 6 high. Key support lies at 904.48, the Aug 26 low. First support is at 922.52, the 20-day EMA.
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  • A bullish theme in USDMXN remains intact and the pair is trading closer to its most recent highs. Attention is on the 20.00 handle that was pierced early August. A clear break of it would open 20.7642, the 76.4% retracement of the bear leg between Nov ‘21 and Apr this year. The bull trigger is 20.2181, the Aug 5 high. Support to watch lies at the 50-day EMA, at 18.7879. Initial support is at the 20-day EMA, at 19.3172.                                           
  • Bullish conditions in USDBRL remain intact. The recovery from 5.3768, the Aug 19 low, is a positive development. Sights are on 5.7422, the 76.4% retracement of the Aug 5 - 19 downleg. A break would expose 5.8551, the Aug 5 high and the bull trigger. Firm support to watch is 5.5135, the 50-day EMA. Key support lies at 5.3768.
  • USDCLP is trading higher this week, marking an extension of the recovery that started Aug 26. The pair is through both the 20- and 50-day EMAs and attention is on the next resistance at 940.53, the Aug 16 high. A break of this level would strengthen a bullish theme and undermine the recent bearish one. A break would open 953.93, the Aug 6 high. Key support lies at 904.48, the Aug 26 low. First support is at 922.52, the 20-day EMA.