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Price Signal Summary: USDMXN Climbs Above Resistance

LATAM FX
  • USDMXN is climbing and has probed the former resistance at 20.2039, Sep 20 high. This signals a resumption of the recent upleg and an extension would open 20.4564, Aug 20 high. On the downside, a break of 19.8004, Jul 30 low is required to reinstate a bearish threat. Initial support is at 19.9368, Sep 22 low.
  • USDCLP has this week traded above the former key resistance at 795.73, Aug 9 high. The break higher confirms a resumption of the uptrend from May 10 with a bullish price sequence of higher highs and higher lows intact. Furthermore, moving average studies are in a bull-mode position, reinforcing the current trend condition. The focus is on 800.00 and 803.49, Oct 15, 2020 high. Firm short-term support lies at 777.48, Sep 15 low.
  • USDBRL is firmer too and the trend needle still points north. The resumption of gains clears the way for a climb towards 5.4741, Aug 20 high. Key short-term support has been defined at 5.1163, Aug 31 low. Initial support is at 5.2445, the 50-day EMA.
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