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LATAM FX: Price Signal Summary - USDMXN Support Remains Intact

LATAM FX
EM BulletBulletGlobalEmerging Market NewsRegion
  • USDMXN remains in consolidation mode and continues to trade below the August and September highs. The Sep 11 - 18 bear leg is considered corrective and the next key support to watch lies at 19.2619, the 50-day EMA. It has been pierced. A clear break of this average would undermine a bullish theme and expose 18.5999, the Aug 16 low. For bulls, 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 holding on to its recent gains and remains above the 50-day EMA, at 5.5199 and an initial support. 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. For bulls, attention on resistance at 5.6917, the Aug 30 high and a bull trigger. Clearance of this hurdle would open 5.7422, the 76.4% retracement of the Aug 5 - 19 bear leg.      
  • USDCLP is trading closer to its recent highs. The recovery that started Sep 27, has resulted in a break of both the 20- and 50-day EMAs. This undermines a recent bearish theme and signals scope for an extension higher, towards 951.80, the Sep 10 high. For bears, a reversal lower and a clear breach of the 20-day EMA, at 923.15, 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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  • USDMXN remains in consolidation mode and continues to trade below the August and September highs. The Sep 11 - 18 bear leg is considered corrective and the next key support to watch lies at 19.2619, the 50-day EMA. It has been pierced. A clear break of this average would undermine a bullish theme and expose 18.5999, the Aug 16 low. For bulls, 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 holding on to its recent gains and remains above the 50-day EMA, at 5.5199 and an initial support. 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. For bulls, attention on resistance at 5.6917, the Aug 30 high and a bull trigger. Clearance of this hurdle would open 5.7422, the 76.4% retracement of the Aug 5 - 19 bear leg.      
  • USDCLP is trading closer to its recent highs. The recovery that started Sep 27, has resulted in a break of both the 20- and 50-day EMAs. This undermines a recent bearish theme and signals scope for an extension higher, towards 951.80, the Sep 10 high. For bears, a reversal lower and a clear breach of the 20-day EMA, at 923.15, would signal the end of the latest bull phase and refocus attention on support at 891.28, the Sep 27 low.