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Price Signal Summary - USDMXN Resumes Its Downtrend

LATAM FX
  • USDMXN is trading lower today, extending yesterday’s sharp sell-off. The pair has breached support at 18.5667, the Jan 18 low. This marks an important break as it cancels a recent bullish signal and confirms a resumption of the primary downtrend. The focus is on 18.4767, the 1.618 projection of the Jul 14 - Sep 12 - Sep 28 price swing. The 1.764 projection lies at 18.2869. Initial resistance is at 18.9122, the Jan 26 high
  • USDBRL has traded lower today extending the January bear leg. The pair has breached support at 5.0108, the Aug 29/30 low and a key support. The break represents an important bearish development and confirms a broad range breakout. This opens 4.8853, the 76.4% retracement of the May 30 - Jul 21 2022 bull leg. Initial firm resistance has been defined at 5.1408, the Jan 31 high.
  • The USDCLP outlook remains bearish and the pair is trading lower today, delivering a fresh trend low once again. The break lower this week confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. The 800.00 handle has been breached and this opens 771.89, the Mar 29 2022 low. On the upside, initial resistance is seen at 818.48, the 20-day EMA.
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