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Free AccessPrice Signal Summary - USDMXN Sell-Off Exposes The Bear Trigger
- USDMXN is trading lower today as the pair extends this week’s sell-off. The 17.00 handle has been cleared and the continuation lower signals scope for a move towards the key support at 16.7852, the Jan 8 low. A break of this level would resume the downtrend and open 16.6262, the Jul 28 2023 low. On the upside, a reversal higher would refocus attention on 17.3860, the Jan 17 high and a bull trigger. Initial resistance is at 17.0250, the 20-day EMA.
- USDBRL conditions remain bullish and attention is on key resistance at 5.0017, the Jan 23 high. It has recently been pierced. A clear break of this hurdle would open 5.0609, 61.8% of the Oct 6 - Dec 27 bear leg. Initial key support to watch lies at 4.9025, the Jan 26 low. A break would be bearish.
- USDCLP trend conditions remain bullish and the recent fresh cycle highs reinforce current conditions and confirm a resumption of the medium-term uptrend. The latest pullback appears - for now - to be a correction. Support at the 20-day EMA has been cleared. The next support to watch lies at 960.88, the Mar 1 low, ahead of the 50-day EMA, at 946.29. For bulls, sights are 996.97, the Sep 2022 high and the psychological 1000.00 handle.
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Why MNI
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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.