Free Trial

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 Resumes Its Downtrend

  • The trend outlook in USDMXN is bearish and today’s strong sell-off reinforces this condition. The break of support at 19.2509, the Nov 15 low, has confirmed a resumption of the broader downtrend that started in Nov 2021. Note that moving average studies are in a clear bear mode position, highlighting current market sentiment. The focus is on 19.00. A break of this level would pave the way for weakness towards 18.5237 further out, the 2020 low. Initial resistance is seen at 19.4907, the 20-day EMA.
  • USDBRL remains below its recent highs. The pair recently breached resistance at 5.4286, the Sep 29 high and pierced 5.5142, the Jul 21 high and a medium-term bull trigger. A clear break of the latter would cancel a bearish theme and instead signal scope for a stronger move higher near-term. This would open 5.5823, the Jan 18 high. Initial firm support is unchanged at 5.2445, the Nov 10 low.
  • USDCLP continues to trade below its recent highs. Resistance to watch is 958.44, the Nov 3 high. A break of this level would signal scope for a stronger recovery and expose 996.97, the Sep 26 high. On the downside, key support and the bear trigger lies at 880.85, the Nov 11 low.

To read the full story

Why Subscribe to


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.