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Price Signal Summary - USDBRL Attention Is On Resistance At 5.4286

LATAM FX
  • USDMXN continues to trade in a range. On the downside, a resumption of weakness would expose key short-term support at 19.7533, the Sep 12 low. Clearance of this level would strengthen bearish conditions and pave the way for a move towards 19.6185, the Jun 10 low. On the upside, a strong recovery would instead refocus attention on 20.5804, the Sep 28 high.
  • USDBRL attention is on resistance at 5.4286, the Sep 29 high. A break of this level would expose 5.5142, the Jul 21 high and a key resistance. On the downside, key short-term support has been defined at 5.1121, the Oct 4 low. A break lower would highlight a bearish development.
  • USDCLP maintains a firmer short-term tone and sights are on resistance at 996.97, the Sep 26 high. The contract in September cleared resistance at 955.10, the Aug 22 high. This has strengthened bullish conditions and signals scope for 1000.00 and 1061.00 further out, the Jul 14 high. The 50-day EMA, at 932.90 is a key support. A clear break of it would undermine the bullish theme and instead suggest scope for a deeper reversal. This would open 900.00 initially.

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