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Price Signal Summary - USDBRL Starts The Year On A Firm Note

LATAM FX
  • The near-term outlook in USDMXN appears bearish and the pair is trading closer to its recent lows. A resumption of weakness would signal scope for a move towards 19.0401, a key support and the Nov 29 low. On the upside, key resistance has been defined at 19.9184, the Dec 12 high. A break of this hurdle would be a bullish development.
  • USDBRL has started the year on a firmer note and cleared resistance at 5.3717, the Dec 14 high. A continuation higher would pave the way for a climb towards 5.5000 and 5.5296, the Nov 17 high and a key resistance. Key support lies at 5.1183, the Dec 23 low.
  • The USDCLP outlook remains bearish. Sights are on support at 849.75, the Sep 5 low. This level has been pierced, a clear break would signal scope for weakness towards 807.85, the Jun 3 low. On the upside, key short-term resistance has been defined at 956.45, the Nov 21 high. Initial firm resistance is at 895.33 the 50-day EMA.

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