US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - USDBRL Remains In Downtrend

LATAM FX
  • USDMXN traded lower last week and in the process cleared support at 16.9811, the Jul 5 low. The break confirms a resumption of the primary downtrend and marks a continuation of the bearish price sequence of lower lows and lower highs. Having traded as low as 16.7078 on Monday the focus on the downside turns to 16.4472, the 2.00 projection of the Jun 2 - Mar 9 - Mar 20 price swing. Resistance to watch is the 50-day EMA, which intersects at 17.3238. This is a key short-term hurdle for bulls, where a clear break would signal a reversal.
  • USDBRL remains in a downtrend and the climb between Jun 22 - Jul 6, appears to be a correction. For bears, the move lower on Jun 9 resulted in a break of 4.8859, the May 15 low and this confirmed a range breakout and a resumption of the medium-term downtrend. A resumption of the bear trend would open 4.7490, the Jun 6 2022 low and 4.6910, the May 30 2022 low. The bear trigger lies at 4.7513, the Jun 22 low. A clear break the 50-day EMA at 5.8915 would signal a potential reversal.
  • USDCLP traded higher last Tuesday and pierced 815.47, the May 25 high. Further strength today suggest there may be scope for a climb towards 825.20, the Apr 10 high, ahead of the key short-term resistance at 837.15, the Mar 17 high. Initial key support has been defined at 794.09, the Jul 4 low.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.