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Why MNI
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.
LATAM FX
- USDMXN is firmer today but softer tone remains intact. The recent move lower is considered corrective although an extension appears likely short-term. Price has traded through the 20-day EMA and attention is on the 50-day EMA at 20.3349 that has been probed. A clear break of this latter EMA would signal scope for a deeper pullback and expose 20.1196, the Oct 26 low. Key resistance is at 20.9790, Nov 3 high. Initial resistance is at 20.6563, Nov 4 high.
- USDBRL traded lower yesterday and has continued to move lower today. Next support is 5.4342, Oct 15 low. A break would open the base of a bull channel at 5.3489. The channel is drawn off the Jun 25 low and represents a key support parameter. While price remains inside the bull channel, the underlying trend condition remains bullish and the current bear cycle is considered corrective. Initial resistance is at 5.6068, Nov 5 high.
- USDCLP traded lower yesterday and in the process, has cleared an important trendline support at 802.27, drawn from the May 10 low. The break has also established a short-term bearish price sequence of lower lows and lower highs, suggesting scope for a deeper retracement. The move lower has opened the 780.00 handle. Initial firm resistance is seen at 808.22, the 20-day EMA.
Why MNI
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.
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