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Price Signal Summary: USDBRL Continues To Climb

LATAM FX
  • USDMXN is holding onto recent gains and continues to trade above the recent low of 19.8193, the Jun 27 low. A continuation higher would signal scope for a test of resistance at 20.7014, the Jun 16 high. It is an important short-term resistance and a break would strengthen bullish conditions. On the downside, key short-term support has been defined at 19.8193. A break would expose 19.4136, the May 30 low.
  • USDBRL has traded to a fresh trend high once again today. Conditions remain bullish and this is also supported by a positive set-up in moving average studies. The focus is on the 5.4000 handle next and 5.4795 further out, 76.4% of the Dec ‘21 - Apr downleg. On the downside, initial support is seen at 5.1510, the 20-day EMA.
  • USDCLP maintains a bullish theme following recent strong impulsive gains. The climb has resulted in a break of the major hurdle for bulls at 878.86, the Mar 19 2020 high. This signals scope for a continuation higher and sights are on 945.65, the 1.382 projection of the Mar 29 - May 12 - Jun 3 price swing. Initial firm support is at 891.48, the 20-day EMA.
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