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Free AccessPrice Signal Summary - USDBRL Bullish Conditions Intact
- USDMXN started the week on a firmer note and traded higher Monday. Recent gains highlight the fact that the pair has failed to confirm a clear break of support at 19.8126, the Aug 15 low. Resistance at 20.2944, the Sep 1 high, has been breached. A clear break of this level would strengthen bullish conditions and open 20.8335, the Aug 3 high. On the downside, a break of 19.7533 would reinstate a bearish theme.
- USDBRL maintains a bullish tone and Monday’s move higher has reinforced bullish conditions. Price has traded above 5.3098, the Sep16 high and this strengthens short-term bullish conditions. Note that the move higher has also delivered a print above 5.3157, the Aug 3 high - a positive development. Scope is seen for a climb towards 5.5142. Initial firm support has been defined at 5.1070, the Sep 22 low.
- USDCLP maintains a firmer short-term tone following the recovery from 849.75, Sep 5 low. The contract is holding onto recent gains and has recently cleared resistance at 955.10, the Aug 22 high. The break strengthens bullish conditions and signals scope for a recovery towards 1000.00 and 1061.00 further out, the Jul 14 high. The 50-day EMA, at 910.73 is first support.
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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.