MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - USDCLP Trades To A Fresh Cycle High

LATAM FX
  • USDMXN has pulled back from today’s intraday high. The outlook though remains bullish and the recent bear cycle between Sep 7 - 20 still appears to be a correction. Price recently traded through an important resistance at 17.4280, the Aug 4 high. The daily close above 17.4280 confirmed a double bottom reversal pattern on the daily chart. If correct, this price development signals scope for a climb towards 17.9292 next - 50.0% of the Mar 20 - Jul 28 downleg. On the downside, a resumption of weakness would signal scope for a steeper pullback towards major support that lies at 16.6262, the Jul 28 low.
  • A bull cycle in USDBRL remains in play and the key pivot support at 4.8416, the Aug 10 low, is intact. A clear break of this level would threaten the bullish theme and expose key support at 4.6964, the Jul 28 low. The bull trigger is unchanged at 5.0016, the Aug 18 high. Clearance of this level would confirm a resumption of the uptrend and open 5.1277, the May 31 high.
  • USDCLP maintains a bullish tone following recent gains and the pair has traded to a fresh cycle high today - breaching 903.23, the Sep 12 high. Moving average studies are in a bull-mode position too and a positive price sequence of higher highs and higher lows remains intact. Scope is seen for a climb towards $912.67, the 61.8% retracement of the Sep ‘22 - Feb ‘23 bear leg. Key support is at the 50-day EMA - at 861.40. The 20-day EMA lies at 880.76.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market 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.