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Price Signal Summary: USDCLP Trend Needle Still Points North

LATAM FX
  • USDMXN was volatile yesterday, peaking at 20.8867 before reversing lower and giving back the day's gains. The break yesterday of 20.7488, Jun 18 high is positive and despite the pullback, suggests the current direction remains up. The focus is on 20.9695 next, Mar 24 high . Support is seen at 20.4123, the Oct 1 low.
  • The USDBRL uptrend remains intact. The pair has this week traded above 5.4741 once again, Aug 20 high. This confirms a resumption of the uptrend that started Jun 25 and opens the 5.60 handle and 5.6428, 76.4% of the Mar - Jun downleg. Initial firm support has been defined at 5.3534, Oct 1 low.
  • The USDCLP bull trend remains firmly intact. The pair has cleared former key resistance at 795.73, Aug 9 high and the trend needle still points north. The break of 795.73 confirms a resumption of the uptrend with a bullish price sequence of higher highs and higher lows intact. The focus is on 825.13, Jun 19 high. Firm short-term support lies at 796.88, the 20-day EMA.

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