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Price Signal Summary: USDBRL Remains Below Recent Highs

LATAM FX
  • USDMXN is unchanged and activity remains in a range. The outlook is bearish and attention is on key support at 19.5987, Jun 9 low where a break would strengthen a bearish case and open 19.5494, Jan 21 low. Price needs to get above 20.2153, Jun 24 high to alter the picture.
  • USDBRL recently breached the 50-day EMA however it has failed to hold onto recent highs and is again testing the 50-day EMA. Further weakness would highlight a bearish theme and expose 5.00 plus the Jun 25 low of 4.8934. This latter level is a key support. A break of 5.3130, Jul 8 high is required to resume bullish pressure.

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