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Price Signal Summary - USDMXN Trend Needle Points South

LATAM FX
  • The trend outlook in {MX} USDMXN is unchanged and signals remain bearish. Last week’s fresh trend low, reinforces this theme. In December, the pair breached support at 17.0340, the Nov 27 low. That break confirmed a resumption of the downtrend and has paved the way for weakness towards 16.6262, the Jul 28 low. Moving average studies remain in a bear mode condition too, highlighting a downtrend. Initial firm resistance is at 17.1875, the 50-day EMA. Short-term gains are considered corrective.
  • The trend condition in {BZ} USDBRL remains bearish. Attention is on support at 4.8032, the Dec 27 low. Clearance of this level would signal scope for a move towards 4.6964, the Jul 28 low. On the upside, key short-term resistance has been defined at 4.9771, the Dec 13 high.
  • {CL} USDCLP maintains a bullish tone following the latest extension of the recovery that started Dec 1. The move above 902.28, the Dec 26 high, strengthens a short-term bullish condition and opens 924.67, the Nov 13 high. Clearance of this level would signal scope for a move towards 955.00, the Oct 16 high. Firm support lies at 870.45, the Dec 29 low. Key support and the bear trigger has been defined at 854.93, Dec 1 low. Initial support lies at 888.44, the 50-day EMA.
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