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Price Signal Summary - USDMXN Trend Structure Remains Bullish

LATAM FX
  • USDMXN remains above last week’s low. The trend outlook is bullish and the recent short-term pullback is considered corrective. Price remains above both the 20- and 50-day EMAs and these averages are in bull mode condition. Sights are on $18.6172, the 76.4% retracement of the Mar 20 - Jul 28 downleg. A break of this level would open 19.2322, the Mar 20 high. On the downside, key support has been defined at 17.3498, the Sep 29 low. Initial support lies at 17.7548, the Oct 12 low.
  • A bull cycle in {BZ} USDBRL remains intact and the recent pullback appears to be a correction. Scope is seen for a climb towards 5.2495, the Mar 27 high, and 5.3409, the Mar 24 high, further out. The bull trigger has been defined at 5.2202, the Oct 6 high. On the downside, key short-term support is seen at 4.9883, the Sep 29 low.
  • {CL} USDCLP maintains a bullish tone and the pair traded higher Monday. Moving average studies are in a bull-mode position and a positive price sequence of higher highs and higher lows remains intact. Scope is seen for a climb towards 956.45, the Nov 21 high. Key support is at the 50-day EMA - at 887.17. The 20-day EMA lies at 914.00.
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