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Price Signal Summary - USDBRL Maintains Sights On Resistance At 5.4286

LATAM FX
  • The USDMXN outlook remains bearish and moving average studies continue to highlight a downtrend. A resumption of weakness sees the pair approaching key short-term support at 19.7533, the Sep 12 low. Clearance of this level would strengthen bearish conditions and pave the way for a move towards 19.6185, the Jun 10 low. On the upside, a substantial recovery would instead refocus attention on 20.5804, the Sep 28 high.
  • USDBRL traded higher Monday and the pair is consolidating these gains. Attention is on resistance at 5.4286, the Sep 29 high. Clearance of this level would expose 5.5142, the Jul 21 high and a key resistance. On the downside, key short-term support has been defined at 5.1121, the Oct 4 low. A break lower would instead highlight a bearish development.
  • USDCLP has reversed lower after failing just shy of key resistance at 996.97, the Sep 26 high. The pair in September cleared resistance at 955.10, the Aug 22 high, strengthening bullish conditions and signalling scope for 1000.00 and 1061.00 further out, the Jul 14 high. The 50-day EMA, at 939.49, is a key support. A clear break of it would undermine the bullish theme and instead suggest scope for a deeper reversal. This would open 900.00 initially.
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