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Price Signal Summary: USDBRL Trend Needle Still Points North

LATAM FX
  • USDMXN is firmer today but still trading closer to recent lows. Last week's pullback is considered corrective. Moving average conditions are in bull a bull mode and this reinforces the uptrend. The 50-day EMA at 20.2625 marks support. A resumption of gains would refocus attention on the bull trigger at 20.9301, the Oct 12 high.
  • The USDBRL trend needle still points north and the recent pullback is considered corrective. The recent break of 5.4741, Aug 20 high confirmed a resumption of the uptrend that started Jun 25. This opens the 5.60 handle and 5.6428, 76.4% of the Mar - Jun downleg. Initial firm support is unchanged at 5.3534, Oct 1 low.
  • USDCLP maintains a firm tone and fresh highs last week reinforce bullish conditions and confirm an extension of the bullish price sequence of higher highs and higher lows. The focus remains on 834.36, 76.4% of the Mar 2020 - May 2021 downleg. A break would open 841.17, high May 6, 2020. Firm short-term support lies at 806.63, the Oct 14 low.
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