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Price Signal Summary: USDMXN Stuck At Recent Lows
- USDMXN is consolidating but remains weak. A bearish theme dominates with attention on 19.8004, Jul 30 low. A break of this support would expose 19.7059, Jun 25 low and 19.5987, Jun 9 low and a key support. Key short-term resistance is unchanged at 20.4564, Aug 20 high. Initial resistance is 20.0032, the 50-day EMA.
- USDBRL failed recently to hold onto the Sep 8 gains. The sharp reversal refocuses attention once again on key short-term support at 5.1163, Aug 31 low. A break of this near-term bear trigger would signal a resumption of bearish pressure and open 5.0416, Jul 29 low. Initial resistance is at 5.3333, Sep 8 high. The key bull trigger is unchanged at 5.4741, Aug 20 high.
- USDCLP maintains a bullish tone following last week's gains and despite the current pullback. The focus is on 795.73, Aug 9 high and the bull trigger. A break would confirm a resumption of the uptrend that started May 10 and open 800.00 and 803.49, Oct 15, 2020 high. Key support is at 762.13, Sep 1 low.
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