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Price Signal Summary - USDMXN Pierces A Key Short-Term Support

LATAM FX
  • USDMXN is trading lower today. The pair has pierced support at 19.8126, Aug 15 low. A clear break would expose 19.4136, the May 30 low. Initial firm resistance to watch is 20.2944, Sep 1 high. Clearance if this level would signal scope for a stronger bounce.
  • USDBRL has pulled back from a recent test above resistance at 5.2195, Aug 19 high. This once again exposes support at 5.0108, Aug 29 / 30 low, where a break would reinstate a recent bearish theme. A resumption of gains would refocus attention on 5.3157, the Aug 3 high.
  • USDCLP is trading above last week’s low. A bearish threat remains present. The pair recently cleared 869.63, Aug 12 low. Scope is seen for weakness towards 807.85, Jun 3 low. Key resistance has been defined at 955.10, Aug 22 high. A break would be a bullish development.
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