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Price Signal Summary - USDCLP Approaches A Key Short-Term Resistance

LATAM FX


  • {MX} USDMXN continues to trade above 19.7533, the Sep 12 low. The recent move higher highlights the fact that the pair has failed to confirm a clear break of support at 19.8126, the Aug 15 low. An extension higher would further undermine a recent bearish threat and expose resistance at 20.2944, the Sep 1 high. On the downside, a break of 19.7533 would reinstate a bearish theme.
  • {BZ} USDBRL has faced resistance this week and retraced a large portion of its most recent gains. A bullish theme remains intact despite the pullback. The recent breach of 5.2573, Sep 1 high signals scope for an extension and the focus shifts to resistance at 5.3157, the Aug 3 high. A break of this level would strengthen bullish conditions. Initial firm support has been defined at 5.0790, the Sep 13 low.
  • {CL} USDCLP maintains a firmer short-term tone following the recovery from 849.75, Sep 5 low. Key resistance to watch is at 955.10, the Aug 22 high. A break would highlight a bullish development and signal scope for a recovery towards 1000.00. A reversal lower would again expose support and the bear trigger at 849.75, the Sep 5 low.
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