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Needle Still Points South


Yields Bounce as Equities Make New Monthly Highs


Heading North


Bull Rally Accelerates


Economists Survey Raises 2021 CPI Forecast To 4.9%

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  • USDMXN traded lower again yesterday having pulled back from recent highs. The sell-off is considered corrective. Recent gains have reinforced current bullish conditions signalling scope for an extension higher. The focus is on 20.9695 next, Mar 24 high. Support is seen at 20.4618, Oct 7 low.
  • The USDBRL trend needle still points north. Last week's break of 5.4741, Aug 20 high confirmed a resumption of the uptrend that started Jun 25. This opens the 5.60 handle and 5.6428, 76.4% of the Mar - Jun downleg. Initial firm support is unchanged at 5.3534, Oct 1 low.
  • USDCLP maintains a firm tone and fresh highs earlier this week reinforce bullish conditions and confirm an extension of the bullish price sequence of higher highs and higher lows. The focus remains on 834.36, 76.4% of the Mar 2020 - May 2021 downleg. Firm short-term support lies at 804.22, the 20-day EMA.