- G10 Markets
- Fixed Income
- Foreign Exchange
- Emerging Markets
- MNI Research
- Global Macro
- Political Risk
- About Us
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
- G10 Markets
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
Real-time insight of oil & gas markets
Reporting on key macro data at the time of release.
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.Free Access
Price Signal Summary: USDBRL Tests Major Support At The Base Of Its Range
- The USDMXN downtrend remains intact and the pair has tested support at 20.1577, the Feb 23 low. A clear break of this level would strengthen bearish conditions and open the 20.00 handle. Moving averages are highlighting a possible bearish crossover. If confirmed, this would reinforce a bearish theme. Resistance to watch is at 20.5892, the 20-day EMA.
- USDBRL has started the week on a softer note and has maintained this week’s bearish momentum. The pair cleared 4.9846 on Monday , the Mar 11 low and an important bear trigger. Yesterday’s weakness resulted in a break of support at 4.8934, the Jun 25, 2021 low. Initial resistance is at $5.0487, the 20-day EMA.
- Note that the monthly chart highlights the point that March (unless we see a bounce) looks like it will be a 3rd consecutive down month. Price is sitting right on the lowest point - 4.8187, Jun 2020 low - of the broad range that has dominated since the peak in May 2020. A clear break of this support (probed today) would reinforce bearish conditions and also highlight a significant reversal.
- USDCLP remains below the Feb 24 high of 824.50. Trend conditions are bearish and short-term gains are considered corrective. Firm resistance is at 832.75, the Feb 7 high. The bear trigger is 783.51, Feb 23 low. A break would open 783.23, 50.0% of the May - Dec 2021 upleg ahead of the 780.00 handle initially.
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
Why Subscribe to
MNI is the leading providerof 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.