© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI: POWELL-NON-HOUSING SERVICES INFLATION SHOWS PERSISTENCE

MNI: FED'S POWELL-TIGHTER CREDIT MEANS RATES MAY NOT NEED TO RISE AS MUCH

Rpt-MNI INTERVIEW: Higher ECB Peak Means Faster To Cut-Simkus

MNI DATA FORECASTS: Flash PMIs In Market's Eyesight

EZ/UK Bond Supply Calendar: EU Bonds & UK APF Sales on Monday

MNI: CANADIAN MAR RETAIL SALES -1.4%; SALES EX-AUTOS/PARTS -0.3%

MNI: Canada Resilient To US Debt Ceiling Clash- Freeland

MNI BRIEF: BOC Defends 2% Target, Senate Asks About Raising It

MNI INTERVIEW: Canada Budget Keeps BOC On Pause: Ex Official

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Price Signal Summary - USDMXN Trend Outlook Remains Bullish

LATAM FX
EM BulletHomepagemarkets-real-timeBulletEmerging Markets News
  • USDMXN maintains a firmer tone following recent gains and price continues to trade closer to its recent highs. The 20- and 50-day EMAs have been cleared and 19.00 has been breached. The next key short-term resistance is at 19.2906, the Feb 6 high. A break would pave the way for strength towards the 19.50 handle and 19.5882, the Dec 30 high. 18.5343, the 20-day EMA, is the first support to watch.
  • Short-term conditions USDBRL remain bullish. Last Wednesday’s price activity resulted in a test above resistance at 5.3073, the Feb 10 high and a key hurdle for bulls. The break opens 5.3518 next, the 76.4% retracement of the Jan 4 - Feb 2 bear leg, ahead of the 5.4000 handle. On the downside, key support to watch lies at 5.1012, the Mar 8 low. A break of this level would instead signal scope for a return to 4.9410, the Feb 2 low. Initial support lies at 5.2038 the 50-day EMA.
  • USDCLP remains above the Mar 7 low of 789.00 and price traded higher last week. Key short-term resistance is at 836.45, the Feb 27 high. This hurdle has been pierced, a clear break is required to reinstate a bullish theme and highlight scope for a stronger recovery. This would open 850.00 and 860.58, the 38.2% retracement of the Sep 26 - Feb 3 bear leg. A break of 776.28, the Feb 3 low, would resume the medium-term downtrend.
238 words

To read the full story

Why Subscribe to

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.
  • USDMXN maintains a firmer tone following recent gains and price continues to trade closer to its recent highs. The 20- and 50-day EMAs have been cleared and 19.00 has been breached. The next key short-term resistance is at 19.2906, the Feb 6 high. A break would pave the way for strength towards the 19.50 handle and 19.5882, the Dec 30 high. 18.5343, the 20-day EMA, is the first support to watch.
  • Short-term conditions USDBRL remain bullish. Last Wednesday’s price activity resulted in a test above resistance at 5.3073, the Feb 10 high and a key hurdle for bulls. The break opens 5.3518 next, the 76.4% retracement of the Jan 4 - Feb 2 bear leg, ahead of the 5.4000 handle. On the downside, key support to watch lies at 5.1012, the Mar 8 low. A break of this level would instead signal scope for a return to 4.9410, the Feb 2 low. Initial support lies at 5.2038 the 50-day EMA.
  • USDCLP remains above the Mar 7 low of 789.00 and price traded higher last week. Key short-term resistance is at 836.45, the Feb 27 high. This hurdle has been pierced, a clear break is required to reinstate a bullish theme and highlight scope for a stronger recovery. This would open 850.00 and 860.58, the 38.2% retracement of the Sep 26 - Feb 3 bear leg. A break of 776.28, the Feb 3 low, would resume the medium-term downtrend.