Free Trial

Price Signal Summary - USDMXN Trend Needle Points South

LATAM FX
  • The trend needle in USDMXN continues to point south and short-term gains are considered corrective. The recent breach of 19.7533, the Sep 12 low and 19.4136, the May 30 low and a key support, has strengthened the case for bears. Moving average studies are in a bear mode position too, highlighting current sentiment. The focus is on 19.1560, the Mar 3 2020 low ahead of 19.0000. The next firm resistance is seen at 19.7559, the 50-day EMA.
  • USDBRL recently breached resistance at 5.4286, the Sep 29 high and pierced 5.5142, the Jul 21 high and a medium-term bull trigger. A clear break of the latter would cancel a recent bearish theme and instead signal scope for a stronger move higher near-term. This would open 5.5823, the Jan 18 high. Initial firm support is unchanged at 5.2445, the Nov 10 low.
  • USDCLP has pulled back from its recent highs. Resistance to watch is 958.44, the Nov 3 high. A break of this level would signal scope for a stronger recovery and expose 996.97, the Sep 26 high. Key support and the bear trigger lies at 880.85, the Nov 11 low.

To read the full story

Close

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.