MNI Test 3, Please Ignore

MNI BRIEF: China Limits, Tightens IPO To Boost Listing Quality

MNI BRIEF: China February New Loans, TSF Pull Back Sharply

MNI BRIEF: China To Strengthen Shareholding Reduction Rules

MNI BRIEF: Net MLF Drain Not Sign Of Tight Liquidity - Paper

MNI: PBOC Conducts CNY387 Bln MLF Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 629; OIL RIGS 510; GAS RIGS 116

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

Bond Supply Calendar: EU Synd W/C 18-Mar; SK, BE, BoE APF Ops Mon

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary: USDCLP Finds Support Ahead Of The 50-Day EMA

LATAM FX
  • USDMXN remains above last week’s low of $20.3180 (Jul 19). The recent pullback is still considered corrective, however, attention is on support around the 50-day EMA - the average intersects at 20.3003. If breached, the move lower would signal scope for a deeper pullback towards 20.00 initially. For bulls, the trigger for a resumption of gains is 21.0535, the Jul 14 high.
  • USDBRL trend conditions remain bullish and the pair continues to trade closer to its recent highs. Moving average studies are in a bull mode condition, reinforcing bullish conditions. The focus is on 5.5245 next, the Jan 24 high, ahead of the 5.60 handle. On the downside, initial support is seen at 5.3611, the 20-day EMA. Support below this average, is at 5.2511, the Jul 8 low.
  • USDCLP recently reversed sharply lower from 1061.00, the Jul 14 high. Support at the 20-day EMA has been breached, however, support at the 50-day EMA remains intact. - the average intersects at 907.67. A strong reversal from recent lows would suggest the recent sharp correction is over. This would open 1009.50 initially, the Jul 15 low. A break lower and a breach of the 50-day EMA would instead signal scope for a deeper sell-off and open 871.60, the May 12 high.
EM BulletHomepagemarkets-real-timeBulletEmerging Markets News
EM BulletHomepagemarkets-real-timeBulletEmerging Markets News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.