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Price Signal Summary - USDMXN Trades Lower And Eyes Support

LATAM FX
  • USDMXN is trading lower today as the pair extends the reversal from last Friday’s 17.9394 high. The move lower signals the end of the recent Nov 3 - 10 corrective bounce. A continuation lower would signal scope for a test and potential break of support at 17.2833, the Nov 3 low. A break of this level would confirm a resumption of the current bear cycle and open 16.9988, the Sep 20 low. On upside, a move above 17.9394 would be a short-term bullish development and expose 18.4863, the Oct 6 high.
  • USDBRL maintains a softer tone. The pair is trading lower today and this has resulted in a print below 4.8590 support, the Nov 7 low. The move lower confirms a resumption of the current downtrend and signals scope for an extension towards 4.8408, the Sep 19 low, and the 4.8000 handle. Initial firm resistance is at 4.9535, the Nov 10 high.
  • The USDCLP uptrend remains intact and the pair is trading closer to its recent highs. Key short-term support has been defined at 873.00, the Nov 3 low. An extension of last week’s gains would signal scope for a climb towards key resistance and the bull trigger at 955.00, the Oct 16 high. On the downside, a reversal and a break of 873.00, would instead highlight a stronger reversal.
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