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Price Signal Summary: USDBRL Reverses Wednesday's Gains

LATAM FX
  • USDMXN is weaker but continues to trade in a tight range near recent lows. A bearish theme dominates with attention on 19.8004, Jul 30 low. A break would expose 19.7059, Jun 25 low and 19.5987, Jun 9 low and a key support. Key short-term resistance is at 20.4564, Aug 20 high. Initial resistance is 20.0301, the 20-day EMA.
  • USDBRL has failed to hold onto Wednesday's gains. The sharp reversal refocuses attention once again on a key short-term support at 5.1163, Aug 31 low. A break of this near-term bear trigger would signal a resumption of bearish pressure and open 5.0416, Jul 29 low. Initial resistance is at Wednesday's high of 5.3333. The key bull trigger is unchanged at 5.4741, Aug 20 high.
  • USDCLP maintains this week's strong bullish tone and the piar traded higher again yesterday. The focus is on 795.73, Aug 9 high and the bull trigger. A break would confirm a resumption of the uptrend that started May 10 and open 800.00 and 803.49, Oct 15, 2020 high. Key support is at 762.13, Sep 1 low. First support is at 779.12, Sep 9 low.
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