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Price Signal Summary - USDCLP Trend Signals Remain Bearish

LATAM FX
  • The near-term outlook in USDMXN appears bearish despite recent gains. A resumption of weakness would signal scope for a move towards 19.0401, a key support and the Nov 29 low. On the upside, key resistance has been defined at 19.9184, the Dec 12 high. A break would be bullish.
  • The USDCLP outlook remains bearish and short-term gains are considered corrective. Sights are on support at $849.75, the Sep 5 low. This level has recently been pierced, a clear break would signal scope for weakness towards $807.85, the Jun 3 low. On the upside, key short-term resistance has been defined at $956.45, the Nov 21 high. Initial firm resistance is at $898.13 the 50-day EMA.

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