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LatAm FX Price Signal Summary: USDMXN Pullback Considered Corrective

EMERGING MARKETS
  • USDMXN sold off sharply yesterday however the pullback appears corrective in nature. A bullish theme remains intact following the pairs recent climb from 20.1196, Oct 26 low. Key resistance at 20.9031, Oct 12 high has been probed. A clear break would signal scope for gains above 21.00. Further out, 21.1550 beckons, 76.4% retracement of the Mar - Jun sell-off. On the downside, initial support is seen at 20.4521, the 20-day EMA.
  • USDBRL remains below its recent high of 5.7542 on Oct 22. The trend outlook is bullish - directional signals such as moving average studies continue to point north. Furthermore, a price sequence of higher highs and higher lows remains intact. Bulls are eyeing 5.7558, the Apr 13 high and 5.8064, the Mar 29 high. Key trend support has been defined at 5.4342, Oct 15 low. Initial support is seen at 5.5369, the Oct 27 low.
  • USDCLP is consolidating and remains below recent highs. The outlook however is bullish and scope is seen for a climb towards 834.36, 76.4% of the Mar 2020 - May 2021 downleg. Clearance of this level would open 841.17, May 6 2020 high. The 50-day EMA, as a support, intersects at $798.86.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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