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LATAM FX: Price Signal Summary - USDMXN Remains Above the 50-Day EMA

LATAM FX
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  • The USDMXN technical picture remains unchanged as the pair continues to trade comfortably below the August and September highs. The Sep 11 - 18 bear leg is considered corrective and the next key support to watch lies at 19.2626, the 50-day EMA, which has been pierced. A clear break of this average would undermine a bullish theme and expose 18.5999, the Aug 16 low. However, a resumption of gains would refocus attention on key resistance and the bull trigger at 20.2181, the Aug 5 high. First resistance and a key short-term hurdle for bulls, is at 19.8295, the Oct 1 high.
  • USDBRL is consolidating gains this week, having once again broken above the 50-day EMA, which now intersects at 5.5162. Key support at 5.3768, the Aug 19 low, remains intact. A clear break of this level would strengthen a bearish threat and open 5.2405, the Jun 6 low. On the topside, initial resistance is being tested once more at 5.5971, the Sep 23 high. Above here, attention is on resistance at 5.6917, the Aug 30 high and a bull trigger
  • USDCLP has reversed initial gains from earlier in the week. The recovery that started Sep 27, has resulted in a break of both the 20- and 50-day EMAs, the latter of which is now being re-tested as initial support. Overall, the recent bullish momentum undermines a bearish theme and signals scope for an extension higher, towards 951.80, the Sep 10 high. A reversal lower and sustained move through the 20-day EMA, at 922.63, would signal the end of the latest bull phase and refocus attention on support at 891.28, the Sep 27 low.
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  • The USDMXN technical picture remains unchanged as the pair continues to trade comfortably below the August and September highs. The Sep 11 - 18 bear leg is considered corrective and the next key support to watch lies at 19.2626, the 50-day EMA, which has been pierced. A clear break of this average would undermine a bullish theme and expose 18.5999, the Aug 16 low. However, a resumption of gains would refocus attention on key resistance and the bull trigger at 20.2181, the Aug 5 high. First resistance and a key short-term hurdle for bulls, is at 19.8295, the Oct 1 high.
  • USDBRL is consolidating gains this week, having once again broken above the 50-day EMA, which now intersects at 5.5162. Key support at 5.3768, the Aug 19 low, remains intact. A clear break of this level would strengthen a bearish threat and open 5.2405, the Jun 6 low. On the topside, initial resistance is being tested once more at 5.5971, the Sep 23 high. Above here, attention is on resistance at 5.6917, the Aug 30 high and a bull trigger
  • USDCLP has reversed initial gains from earlier in the week. The recovery that started Sep 27, has resulted in a break of both the 20- and 50-day EMAs, the latter of which is now being re-tested as initial support. Overall, the recent bullish momentum undermines a bearish theme and signals scope for an extension higher, towards 951.80, the Sep 10 high. A reversal lower and sustained move through the 20-day EMA, at 922.63, would signal the end of the latest bull phase and refocus attention on support at 891.28, the Sep 27 low.