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Price Signal Summary - USDMXN Is Trading At Its Recent Lows

LATAM FX
  • USDMXN continues to trade at its recent lows and is weaker today. A continuation lower would expose key short-term support 19.7533, the Sep 12 low. Clearance of this level would strengthen bearish conditions. On the upside, a resumption of gains would refocus attention on 20.5804, the Sep 28 high.
  • USDBRL traded sharply lower on Oct 3. The pullback is considered to be corrective, however, price is approaching support at 5.1070, the Sep 22 low. A break of this level would cancel the recent bullish theme and instead signal scope for a deeper pullback towards 5.0108 initially, the Sep 29 / 30 low. Key short-term resistance has been defined at 5.4286, the Sep 29 high. A break would reinstate a bullish theme.

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