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Price Signal Summary - USDBRL Trend Condition Remains Bullish

LATAM FX
  • USDMXN is trading higher, extending the latest recovery. For now, short-term gains are considered corrective and key resistance to watch is 17.4280, the Aug 4 high. A clear break of this hurdle is required to highlight a potential short-term reversal and open 17.7714, the May 31 high. The bear trigger is unchanged, it lies at 16.6262, the Jul 28 low. Clearance of this level would confirm a resumption of the medium-term downtrend. First support lies at 16.9661, the 20-day EMA.
  • A bull cycle USDBRL remains in play and the pair is firmer today. Support to watch is 4.8416, the Aug 10 low. A break would threaten the current bullish theme and expose key support at 4.6964, the Jul 28 low. The bull trigger is 5.0016, the Aug 18 high, clearance of this level would open 5.1277, the May 31 high.
  • USDCLP is trading higher today and maintains a short-term bullish tone. The contract has recently found support ahead of the 50-day EMA - at 839.77 today. A continuation higher would signal scope for a climb towards the bull trigger at $872.75, the Aug 18 high. On the downside, a clear break of the 50-day EMA would instead suggest scope or a deeper retracement.
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