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Price Signal Summary - USDMXN Appears Vulnerable

LATAM FX
  • The USDMXN outlook remains bearish and the pair is trading at this week’s lows. Moving average studies continue to highlight a downtrend. A continuation lower would expose the next key short-term support at 19.7533, Sep 12 low. Clearance of this level would strengthen bearish conditions and pave the way for a move towards 19.6185, the Jun 10 low. On the upside, a strong reversal higher would instead refocus attention on 20.5804, the Sep 28 high.
  • USDBRL is trading closer to its recent highs following yesterday's rebound from the session low. Attention is on resistance at 5.4286, the Sep 29 high. Clearance of this level would expose 5.5142, the Jul 21 high and a key resistance. On the downside, key short-term support is unchanged at 5.1121, the Oct 4 low. A break lower would instead highlight a bearish development.
  • USDCLP traded lower Tuesday and remains below its recent high of 992.13 (Oct 21). Despite the pullback, the outlook remains bullish. However, the 50-day EMA, at 939.56, has been pierced. A clear break of the EMA would signal potential for a deeper pullback and expose 921.25, the Oct 12 low ahead of the 900.00 handle. Key resistance is at 996.97, the Sep 26 high. Clearance of this level would open 1000.00 and 1061.00 further out, the Jul 14 high.
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