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Free AccessPrice Signal Summary: USDCLP Is Holding Onto Recent Gains And Testing Resistance
- USDMXN is consolidating and remains above the recent low of 19.7274, on Apr 4. The trend outlook is bearish and short-term gains are considered corrective. The recent move lower, together with a break of 20.00, reinforced bearish conditions. Moving average studies remain in a bear mode, highlighting current sentiment. The focus is on 19.7059, the Jun 25, 2021 low. Resistance to watch is at 20.3757, the 50-day EMA.
- USDBRL remains in a downtrend. The break lower on Apr 1 marked a resumption of the downtrend. 4.6000 has been probed and this opens 4.5439 next, 1.236 projection of the Mar - Jun - Dec 2021 price swing. The 20-day EMA at 4.8142 remains the key short-term resistance. Short-term gains are considered corrective.
- USDCLP traded higher last week and is holding onto its recent gains. The recovery is considered corrective, however, the pair has traded through the 50-day EMA and price is testing resistance at 818.60, the Mar 15 high. A clear break of this level would signal scope for a stronger rally and open 832.75, the Feb 7 high. Initial support is seen at 795.30, the 20-day EMA. Key support is at 771.89, Mar 29 low.
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Why MNI
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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.