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Price Signal Summary - Strong USDMXN Recovery

LATAM FX
  • USDMXN has rebounded sharply today. This means that yesterday’s attempted break of support at 19.8126, the Aug 15 low, has failed. A continuation higher would further undermine a recent bearish threat and expose resistance at 20.2944, the Sep 1 high. On the downside, a break of Monday’s low of 19.7533, the Sep 12 low, is required to reinstate a bearish theme.
  • USDBRL is firmer today but remains below the recent high of 5.2573, the Sep 1 high. A break of this resistance is required to strengthen a bullish case and would open 5.3157, the Aug 3 high. The bear trigger is at 5.0108, the Aug 29 / 30 low.
  • USDCLP is trading above last week’s low. A bearish threat remains present despite recent gains. The pair recently cleared 869.63, Aug 12 low. Scope is seen for weakness towards 807.85, the Jun 3 low. On the upside, key resistance has been defined at 955.10, Aug 22 high. A break would be a bullish development.
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