FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Price Signal Summary - USDBRL Bull Cycle Remains In Play

LATAM FX
  • USDMXN is in consolidation mode and continues to trade below its recent highs. The pair, earlier this month, pierced resistance at 17.3959, the Jul 7 high. A clear break of this hurdle would suggest potential for a stronger recovery and open 17.5977, the Jun 5 high. Note that the broader trend condition is bearish and moving average studies continue to highlight a downtrend. The bear trigger is 16.6262, the Jul 28 low. Initial support to watch lies at 16.9118, the Aug 10 low.
  • The current USDBRL bull cycle remains in play and the pair is trading at its recent highs. Price has recently cleared the 20- and 50-day EMAs and this highlighted a short-term bullish theme. A key resistance at 4.9499, the Jul 6 high has been breached this week. This is seen as an important short-term breakout and opens 5.0039, the Jun 2 high. Further out, an extension higher would expose 5.1277, the May 31 high. Initial support to watch is 4.8710, the 20-day EMA. Key support has been defined at 4.6964, the Jul 28 low.
  • USDCLP maintains a short-term bullish tone and the pair traded to a fresh cycle high yesterday. The gap higher, on Jul 31, resulted in a break of 837.15, the Mar 17 high and a key resistance. The subsequent extension reinforces a bullish theme and the focus is on 886.62, the 50.0% retracement of the Sep 26 ‘22 - Feb 3 bear leg. First support to watch is 845.54, the 20-day EMA. The 50-day EMA lies at 828.11.
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.