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Price Signal Summary - USDMXN Remains Above Support

LATAM FX
  • USDMXN is firmer today and the pair continues to trade above 19.7533, the Sep 12 low. The recent move higher highlights the fact that the pair has failed to confirm a clear break of support at 19.8126, the Aug 15 low. An extension higher would further undermine a recent bearish threat and expose resistance at 20.2944, the Sep 1 high and the next bull trigger. On the downside, a break of 19.7533 would reinstate a bearish theme.
  • USDBRL has faced resistance this week and retraced a large portion of its most recent gains. A bullish theme remains intact despite the pullback. The recent breach of 5.2573, Sep 1 high signals scope for an extension higher and the focus shifts to resistance at 5.3157, the Aug 3 high. A break of this level would strengthen bullish conditions. Initial firm support has been defined at 5.0790, the Sep 13 low.
  • USDCLP maintains a firmer short-term tone following the recovery from 849.75, Sep 5 low. The contract has gapped higher today, reinforcing current bullich conditions. Note that price has breached resistance at 955.10, the Aug 22 high. The break strengthens bullish conditions signals scope for a recovery towards 1000.00. The 50-day EMA, at 908.30 is first support.
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