Free Trial
BOJ VIEW

J.P.Morgan: YCC Approaching Its Final Chapter

CNH

USD/CNH Rebounds Ahead Of CNY Fixing

MYR

Ringgit Stabilises Despite Palm Oil Weakness

JGBS

Curve Flattens

US TSYS

Twisting Flatter At The Margin

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Price Signal Summary: USDMXN Remains Soft

LATAM FX
  • USDMXN remains soft. The move lower this week resulted in a break of support at 20.2080, Jul 29 low and the 20.00 handle. This has strengthened a bearish condition and signals potential for a move towards 19.8193 next, the Jun 27 low. A break would open 19.4136, the May 30 low. Key short-term resistance has been defined at 20.8335, the Aug 3 high. Initial resistance is at 20.5004, Aug 4 high.
  • USDBRL has this week traded below 5.1298, the Aug 1 low. The clear break highlights potential for a deeper retracement and has opened 5.0055, the 61.8% retracement of the May 30 - Jul 21 upleg. The 76.4% level is at 4.8853. On the upside, initial key resistance has been defined at 5.3157, the Aug 3 high. A break would reinstate a bullish focus and attention would turn to 5.5142, the Jul 21 high and a bull trigger.
  • USDCLP has pierced support at 884.75, Aug 1 low. A clear break would confirm a continuation of the current bear leg and open 853.40, the Jun 15 low. Initial firm resistance has been defined at 970.08, the Jul 22 high. A breach of this level is required to reinstate a bullish theme.
198 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • USDMXN remains soft. The move lower this week resulted in a break of support at 20.2080, Jul 29 low and the 20.00 handle. This has strengthened a bearish condition and signals potential for a move towards 19.8193 next, the Jun 27 low. A break would open 19.4136, the May 30 low. Key short-term resistance has been defined at 20.8335, the Aug 3 high. Initial resistance is at 20.5004, Aug 4 high.
  • USDBRL has this week traded below 5.1298, the Aug 1 low. The clear break highlights potential for a deeper retracement and has opened 5.0055, the 61.8% retracement of the May 30 - Jul 21 upleg. The 76.4% level is at 4.8853. On the upside, initial key resistance has been defined at 5.3157, the Aug 3 high. A break would reinstate a bullish focus and attention would turn to 5.5142, the Jul 21 high and a bull trigger.
  • USDCLP has pierced support at 884.75, Aug 1 low. A clear break would confirm a continuation of the current bear leg and open 853.40, the Jun 15 low. Initial firm resistance has been defined at 970.08, the Jul 22 high. A breach of this level is required to reinstate a bullish theme.