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Price Signal Summary - USDBRL Gains Highlight Bullish Outlook

LATAM FX
  • USDMXN remains above recent lows following the recovery last week from 19.7533, the Sep 12 low. The move higher highlights the fact that the pair has failed to confirm a clear break of support at 19.8126, the Aug 15 low. A continuation higher would further undermine a recent bearish threat and expose resistance at 20.2944, the Sep 1 high. On the downside, a break of 19.7533 would reinstate a bearish theme.
  • USDBRL is holding on to its recent gains. The breach of 5.2573, Sep 1 high signals scope for an extension and the focus shifts to resistance at 5.3157, the Aug 3 high. A break of this level would strengthen bullish conditions. Initial firm support has been defined at 5.0790, the Sep 13 low.
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