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Price Signal Summary: USD Trend Needle Still Points North

LATAM FX
  • USDMXN has pulled back from recent highs. Recent gains have reinforced current bullish conditions signalling scope for further gains near term. The focus is on 20.9695 next, Mar 24 high. Support is seen at 20.4618, Oct 7 low.
  • The USDBRL trend needle still points north and last week's break of 5.4741, Aug 20 high confirmed a resumption of the uptrend that started Jun 25. This opens the 5.60 handle and 5.6428, 76.4% of the Mar - Jun downleg. Initial firm support is unchanged at 5.3534, Oct 1 low.
  • USDCLP maintains a firm tone and this week's fresh highs reinforce bullish conditions and confirm an extension of the bullish price sequence of higher highs and higher lows. The focus remains on 834.36, 76.4% of the Mar 2020 - May 2021 downleg. Firm short-term support lies at 802.97, the 20-day EMA.

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