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Tech Focus: LatAm FX Price Signal Summary: USDBRL Downtrend Extends

EMERGING MARKETS
  • The USDMXN retracement continues to extend and price has traded below yesterday's low. The pair is approaching 20.0380, 61.8% of the rally between Jun 9 - 18. A break of this level would strengthen a bearish case and expose 19.8701, the 76.4% retracement and key support at 19.5987, the Jun 9 low. Price needs to get above 20.4082, Jun 23 high to ease the developing bearish threat.
  • USDBRL traded lower yesterday and is weaker again today. The pair has breached the psychological 5.00 handle. The break reinforces bearish conditions and opens 4.8187 further out, Jun 8 2020 low. Near-term resistance is at 5.1386, Jun 11 high .
  • USDCLP traded in an extremely volatile manner Tuesday and price remains below that day's high print of 757.60. This level marks the key short-term resistance. A deeper pullback would signal scope for a test 726.76, the 20-day EMA. The 50-day EMA intersects at $720.69.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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