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Free AccessPrice Signal Summary: USDBRL Remains Under Pressure
- USDMXN outlook remains bullish. The pair rallied Aug 20 and cleared 20.2502, Jul 21 high. The break highlights a positive short-term theme and ends the recent 2-month broad consolidation. Attention is on 20.5027, 76.4% of the Jun 18 - 25 downleg where a break would signal scope for stronger gains potentially towards 20.7488, Jun 18 high. Key support is at 19.8004, Jul 30 low.
- USDBRL remains under pressure this week as the pair pulls back from 5.4741, Aug 20 high. The next support is at the 50-day EMA at 5.2228. A break of this level would signal scope for a deeper pullback towards 5.1644, the Aug 11 low. Initial resistance is at 5.3630, Aug 24 high with key resistance and the bull trigger at 5.4741.
- The USDCLP needle still points north and the focus is on 795.73, the Aug 9 high and bull trigger. Moving average studies remain in a bull mode and a bullish price sequence of higher highs and higher lows dominates. A break of 795.73 would confirm a resumption of the uptrend and open 800.00 and above. Key support lies at 768.33, Aug 12 low. Dips are considered corrective.
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Why MNI
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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.