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Free AccessPrice Signal Summary - USDCLP Trend Outlook Remains Bullish
- USDMXN traded higher last week but failed to hold on to its gains and reversed sharply on Sep 28. A bullish outlook remains intact though following the recovery in September from levels just below support at 19.8126, the Aug 15 low. Resistance at 20.2944, the Sep 1 high, has been breached. The clear break strengthens bullish conditions and opens 20.8335, the Aug 3 high. On the downside, key support to watch lies at 19.7533, the Sep 12 low.
- USDBRL maintains a bullish tone and last week’s move higher has reinforced short-term conditions. Price traded above 5.3098, the Sep16 high and 5.3157, the Aug 3 high - a positive development. Scope is seen for a climb towards 5.5142. Initial firm support has been defined at 5.1070, the Sep 22 low. The latest pullback is considered corrective.
- USDCLP maintains a firmer short-term tone and pullbacks are considered corrective. The contract has recently cleared resistance at 955.10, the Aug 22 high. The break strengthens bullish conditions and signals scope for a recovery towards 1000.00 and 1061.00 further out, the Jul 14 high. The 50-day EMA, at 922.06 is first support.
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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.