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Price Signal Summary - USDMXN Bulls Remain In The Driver’s Seat

LATAM FX
  • USDMXN maintains a bullish tone and the pair has traded higher this week and is firmer again today. The rally confirms a resumption of the uptrend that started Jul 28. Sights are on $18.6172, the 76.4% retracement of the Mar 20 - Jul 28 downleg. A break of this level would open 19.2322, the Mar 20 high. On the downside, key support has been defined at 17.3498, the Sep 29 low.
  • A bull cycle in USDBRL remains intact and the pair is trading higher again today as the uptrend extends. Scope is seen for a climb towards 5.2495, the Mar 27 high, and 5.3409, the Mar 24 high, further out. On the downside, key short-term support has been defined at 4.9883, the Sep 29 low.
  • USDCLP maintains a bullish tone and the pair has this week breached 912.45, the Sep 27 high. Moving average studies are in a bull-mode position and a positive price sequence of higher highs and higher lows remains intact. Scope is seen for a climb towards 926.51, the Nov 28 high, and 944.89, the 76.4% retracement of the Sep 26 2022 - Feb 3 bear leg. Key support is at the 50-day EMA - at 874.40. The 20-day EMA lies at 896.51.
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