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LATAM FX: Price Signal Summary – USDBRL Tests Support At The 50-Day EMA

LATAM FX
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  • The trend structure in USDMXN is unchanged, it remains bullish and recent short-term weakness has proved to be corrective. Key support to monitor is 20.0219, the Dec 20 low. A break of this level would undermine the bullish theme and highlight a stronger reversal. Clearance of this level would open 19.7618, the Nov 7 low. Initial support lies at 20.3552, the 50-day EMA. The bull trigger at 20.9072, the Dec 31 high, has been pierced. A clear break of it would resume the uptrend and expose the 21.00 handle initially, followed by 21.1093, the 2.618 projection of the Sep 18 - Oct 1 - 4 ‘24 price swing.   
  • The USDBRL bull cycle remains in play and the latest pullback appears corrective. However, support at the 50-day EMA, at 5.9964, has been pierced. A clear breach of the 50-day EMA would signal scope for a deeper retracement and open 5.8675, the Dec 12 low. On the upside, a resumption of gains would open 6.3406, the 3.00 projection of the Aug 19 - 30 - Sep 19 price swing, and 6.4149, the 3.236 projection.  
  • A bull cycle in USDCLP remains in play. The pair recently cleared resistance at 987.92, the Nov 12 high, to confirm a resumption of the uptrend. Note too that 999.88, the Dec 19 high, has also been breached. This opens 1020.18 next and 1026.48, the 1.236 and 1.382 projection points of the Nov 7 - 12 - Dec 6 price swing. Firm support is at 987.02, the 50-day EMA. A clear break of the EMA would highlight potential for a deeper retracement and open 966.86, the Dec 6 low
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  • The trend structure in USDMXN is unchanged, it remains bullish and recent short-term weakness has proved to be corrective. Key support to monitor is 20.0219, the Dec 20 low. A break of this level would undermine the bullish theme and highlight a stronger reversal. Clearance of this level would open 19.7618, the Nov 7 low. Initial support lies at 20.3552, the 50-day EMA. The bull trigger at 20.9072, the Dec 31 high, has been pierced. A clear break of it would resume the uptrend and expose the 21.00 handle initially, followed by 21.1093, the 2.618 projection of the Sep 18 - Oct 1 - 4 ‘24 price swing.   
  • The USDBRL bull cycle remains in play and the latest pullback appears corrective. However, support at the 50-day EMA, at 5.9964, has been pierced. A clear breach of the 50-day EMA would signal scope for a deeper retracement and open 5.8675, the Dec 12 low. On the upside, a resumption of gains would open 6.3406, the 3.00 projection of the Aug 19 - 30 - Sep 19 price swing, and 6.4149, the 3.236 projection.  
  • A bull cycle in USDCLP remains in play. The pair recently cleared resistance at 987.92, the Nov 12 high, to confirm a resumption of the uptrend. Note too that 999.88, the Dec 19 high, has also been breached. This opens 1020.18 next and 1026.48, the 1.236 and 1.382 projection points of the Nov 7 - 12 - Dec 6 price swing. Firm support is at 987.02, the 50-day EMA. A clear break of the EMA would highlight potential for a deeper retracement and open 966.86, the Dec 6 low