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Price Signal Summary: USDCLP Adding To Gains

LATAM FX
  • USDMXN is unchanged and continues to consolidate near recent lows. A bearish theme still dominates with attention on 19.8004, Jul 30 low. Clearance of this support would expose 19.7059, Jun 25 low and 19.5987, Jun 9 low and a key support. Key short-term resistance is at 20.4564, Aug 20 high. Initial resistance is at 20.0505, the 20-day EMA.
  • USDBRL is in consolidation mode. A bearish threat remains present following the recent pullback from 5.4741, Aug 20 high. Support at 5.1644, Aug 11 low has been cleared, signalling scope for a deeper pullback towards 5.1107, Aug 5 low and 5.0416, Jul 29 low. Initial resistance is at 5.2703, Aug 25 high with key resistance and the bull trigger at 5.4741, Aug 20 high.
  • USDCLP is holding onto recent gains and has defined a key short-term support at 762.13, Sep 1 low. Recent gains mean the 50-day EMA has provided support and this supports the broader bullish theme. An extension would open 795.73, the Aug 9 high and the bull trigger. A break of 762.13 is required to reinstate a bearish threat.
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