MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary: USDBRL Bear Flag

LATAM FX
  • USDMXN is unchanged and continues to consolidate. The pair stalled recently at 20.9141, the Jan 28 high and price remains below this level. Attention is on the key short-term support and bear trigger at 20.2787, Jan 18 low. A break would confirm a resumption of the downtrend and open 20.2517, Nov 9 low and 20.1196, Oct 26 low. Key short-term resistance is at 20.9141. A break would instead highlight a short-term reversal.
  • USDBRL is consolidating and the recent pause in the downtrend appears to be a bear flag. The outlook is bearish. Last week’s sell-off confirmed a clear break of support at 5.3885, the Nov 11 low. The move lower highlights a range breakout and has confirmed a resumption of the bear cycle that started Dec 21. This has exposed 5.2230, 61.8% retracement of the rally between Jun - Dec last year. On the upside, resistance is seen at 5.4349, Jan 27 low.
  • The USDCLP trend direction remains bearish and recent gains are still considered corrective. The downtrend is highlighted by a bearish moving average condition and a breach on Jan 5 of trendline support drawn from the May 10 2021 low. A resumption of weakness and a break to fresh lows would confirm a resumption of the downtrend and open 788.22, the Nov 10 low ahead of 783.23, the 50.0% retracement of the May - Dec 2021 upleg. The bear trigger is 793.46, Jan 27 low. Next resistance is seen at 844.56, 61.8% of the Dec 20 - Jan 27 downleg.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.