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Price Signal Summary: USDCLP Uptrend Resumes

LATAM FX
  • USDMXN is firmer. On Oct 6, the pair traded sharply higher to 20.8867 before reversing lower and giving back the day's gains. The breach of 20.7488, Jun 18 high though is positive and 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.
  • USDBRL bulls have paused for breath. The uptrend remains intact and last week's break of 5.4741, Aug 20 high confirmed a resumption of the uptrend that started Jun 25. This 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.
  • USDCLP has started the week on a firm note as the pair trades above last week's highs and through 820.00. This reinforces bullish conditions and confirms an extension of the bullish price sequence of higher highs and higher lows. The focus is on 834.36, the 76.4% retracement of the Mar 2020 - May 2021 downleg. Firm short-term support lies at 800.91, the 20-day EMA.

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