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Price Signal Summary - USDCLP Pierces The 50-Day EMA

LATAM FX
  • USDMXN is consolidating and continues to trade closer to its recent lows. A resumption of weakness would expose key short-term support at 19.7533, the Sep 12 low. Clearance of this level would strengthen bearish conditions. On the upside, a resumption of gains would refocus attention on 20.5804, the Sep 28 high.
  • USDCLP maintains a firmer short-term tone despite the latest corrective pullback. The contract has recently cleared resistance at 955.10, Aug 22 high. This strengthened bullish conditions and signals scope for 1000.00 and 1061.00 further out, the Jul 14 high. The 50-day EMA, at 925.21 is first support and has been pierced. A clear break would undermine the bullish theme and instead suggest scope for a deeper reversal. This would open 900.00 initially.

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