Free Trial

Price Signal Summary: USDMXN Remains In A Bear Cycle

  • USDMXN remains in its current bear cycle. Support at 20.9790, the Nov 3 high, has been cleared. The break signals scope for a deeper pullback with attention on the 50-day EMA at 20.8055 and 20.7009, the 76.4% retracement of the Nov 9 - 26 rally. Resistance to watch is 21.5147, Dec 1 high.
  • A USDBRL bearish threat remains present following the sell-off last week from 5.7018, the Dec 6 high. A deeper pullback would expose the base of the bull channel at 5.4555 The channel is drawn from the Jun 25 low and a break would expose support at 5.3885, the Nov 11 low. Clearance of both these levels would represent an important bearish technical development. Key resistance is at 5.7018.
  • USDCLP last week resumed its uptrend. The pair has cleared resistance at $849.25, the Nov 30 high. This maintains the bullish price sequence of higher highs and higher lows and opens the 860.00 handle and 878.86 further out, the Mar 19 2020 high. Support has been defined at 818.65, the Dec 1 low.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.