MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

USDA: CORN STOCKS 12,074M BSL ON JAN 1

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

LATAM FX: Price Signal Summary – USDMX Support Remains Intact For Now

LATAM FX
BulletEM BulletEmerging Market News
  • The trend structure in USDMXN is bullish. However, attention remains on the Nov 6 pullback and the move down on Nov 7. This continues to highlight a possible short-term top and therefore a bearish threat. Price has traded through the 20-day EMA, exposing support at the 50-day EMA, at 20.0957. The average has been pierced, a clear break of it would undermine the bullish theme and signal potential for a deeper retracement towards 19.7618 initially, the Nov 7 low. Resistance to watch is at 20.8313, the Nov 26 high. A breach of this hurdle would confirm a resumption of the uptrend. 
  • The USDBRL bull cycle remains in play. Support at the 50-day EMA, at 5.8815, remains intact. The pair has traded through resistance at 6.1153, the Nov 29 high and bull trigger. Sights are on 6.3406, the 3.00 projection of the Aug 19 - 30 - Sep 19 price swing, and 6.4149, the 3.236 projection. A clear break of the 50-day EMA is required to signal a short-term reversal. 
  • A bull cycle in USDCLP remains in play and the latest round of gains emphasises this trend. The pair has cleared resistance at 987.92, the Nov 12 high, to confirm a resumption of the uptrend. Note too that 990.67, the Feb 26 high, has been breached. This opens the psychological 1000.00 handle. A break of this level would open 1010.00, the 1.00 projection of the Nov 7 - 12 - Dec 6 price swing. Firm support is at 967.74, the 50-day EMA.
251 words

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.
  • The trend structure in USDMXN is bullish. However, attention remains on the Nov 6 pullback and the move down on Nov 7. This continues to highlight a possible short-term top and therefore a bearish threat. Price has traded through the 20-day EMA, exposing support at the 50-day EMA, at 20.0957. The average has been pierced, a clear break of it would undermine the bullish theme and signal potential for a deeper retracement towards 19.7618 initially, the Nov 7 low. Resistance to watch is at 20.8313, the Nov 26 high. A breach of this hurdle would confirm a resumption of the uptrend. 
  • The USDBRL bull cycle remains in play. Support at the 50-day EMA, at 5.8815, remains intact. The pair has traded through resistance at 6.1153, the Nov 29 high and bull trigger. Sights are on 6.3406, the 3.00 projection of the Aug 19 - 30 - Sep 19 price swing, and 6.4149, the 3.236 projection. A clear break of the 50-day EMA is required to signal a short-term reversal. 
  • A bull cycle in USDCLP remains in play and the latest round of gains emphasises this trend. The pair has cleared resistance at 987.92, the Nov 12 high, to confirm a resumption of the uptrend. Note too that 990.67, the Feb 26 high, has been breached. This opens the psychological 1000.00 handle. A break of this level would open 1010.00, the 1.00 projection of the Nov 7 - 12 - Dec 6 price swing. Firm support is at 967.74, the 50-day EMA.