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LatAm FX Price Signal Summary: USDMXN 50-Day EMA Remains Intact

LATAM FX
  • USDMXN has traded higher this week and support has been defined at 20.8421, the Dec 13 low. The recovery means the 50-day EMA as a support, remains intact. Note too that the bullish set-up between the 20-and 50-day EMAs suggests the broader trend remains up. A break of resistance at 21.5147, Dec 1 high would strengthen a bullish theme.
  • A recent short-term USDBRL bearish threat has been removed following this week’s gains. Today’s climb has resulted in a print above resistance at 5.7018, Dec 6 high. A clear break would refocus attention on the top of a bull channel drawn from the Jun 25 low. The line intersects at 5.8569. There is also a key resistance handle at 5.7542, the Oct 22 high. Initial firm support lies at 5.5184, Low Dec 9.
  • USDCLP is unchanged. The pair last week resumed its uptrend. Resistance at $849.25, the Nov 30 high, has been breached. This maintains the bullish price sequence of higher highs and higher lows and opens the 860.00 handle and 878.86 further out, the Mar 19 2020 high. Support lies at 818.65, the Dec 1 low.
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