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Price Signal Summary: USDCLP Is Off To The Races

LATAM FX
  • USDMXN short-term conditions remain bullish and the pair has traded higher today. The latest gains highlight a clear breach of resistance at 20.7014, the Jun 16 high. It is an important short-term hurdle and the break strengthens bullish conditions. This paves the way for a climb strength towards the 21.00 handle and 21.1071, the 1.00 projection of the May 30 - Jun 16 - 27 price swing. On the downside, key short-term support is seen at the 20-day EMA, at 20.2833.
  • USDBRL traded to a fresh trend high once again last week, above 5.4000. Conditions remain bullish and this is also supported by a positive set-up in moving average studies. The focus is on 5.4795 next, 76.4% of the Dec ‘21 - Apr downleg. On the downside, initial support is seen at 5.2312, the 20-day EMA.
  • USDCLP is off to the races once again and has gapped higher at the open. This marks an extension of the bull trend and maintains the current impulsive nature of the rally. The psychological 1000.00 handle has been cleared and attention turns to 1030.80, 2.236 projection of the Mar 29 - May 12 - Jun 3 price swing. Support has been defined at $942.25, the Jul 7 low.
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