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Price Signal Summary: USDMXN Holds Onto Most Of Its Gains

LATAM FX
  • USDMXN rallied again yesterday and is holding onto its gains. The pair has cleared former resistance at 20.4564, Aug 20 high and this paves the way for a climb towards 20.7488, Jun 18 high and the next key resistance. Initial firm support is at 20.2309, Sep 20 high.
  • USDCLP uptrend extends and the bull trend remains firmly intact. The pair has this week cleared former key resistance at 795.73, Aug 9 high. The break confirmed a resumption of the uptrend from May 10 with a bullish price sequence of higher highs and higher lows intact. The focus is on 825.13, Jun 19 high now that 806.84 has been cleared, 61.8% retracement of the Mar '20 - May '21 bear cycle. Firm short-term support lies at 790.72, the 20-day EMA.
  • The USDBRL trend needle still points north. The resumption of gains recently 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 5.2581, the 50-day EMA.
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