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Price Signal Summary - USDMXN Trend Condition Remains Bearish

EMERGING MARKETS
  • The latest pullback in USDMXN is potentially significant because it means that resistance at the 50-day EMA, which intersects at 17.9786, has remained intact - for now. This is a key short-term hurdle for bulls where a break would signal a stronger reversal. The primary trend direction is down and a continuation lower would expose the bear trigger at 17.4207, May 15 low. A break of this level would open 17.0507, the Apr 29 2016 low.
  • USDBRL is trading higher. Recent gains have resulted in a break of both the 20- and 50-day EMAs. For now, the move higher appears to be a correction However, a clear break of the 50-day EMA would signal scope for a stronger recovery and expose resistance at 5.0891, the Apr 19 high. On the downside, a reversal lower would refocus attention on the bear trigger that has been defined at 4.8859, the May 15 low. A break would resume the downtrend.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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