Free Trial
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.
EMERGING MARKETS
- USDMXN traded lower yesterday and remains in bear mode.
- A bearish theme follows last week's clear break of trendline support drawn off the Jan 21 low, highlighting scope for a deeper pullback.
- The pair has also cleared the Mar 18 low of 20.2829. The breach strengthens a bearish argument and exposes the 20.00 handle.
- On the upside, resistance is seen at 20.7883, Mar 29 high ahead of the key level at 20.9695, Mar 24 high.
- The USDBRL outlook remains bullish, however this theme is being threatened. The pair is below trendline support drawn off the Dec 14 low - the trendline intersects at 5.6083. A clear break of the line would signal a potentially stronger reversal and expose support at 5.4499. Key resistance has been defined at 5.8064, Mar 29 high.
- USDCLP remains below resistance at 743.10, Mar 8 high. Support at 713.97, Mar 22 low was probed yesterday. A clear break is required to reinstate a bearish threat and open 699.19, Feb 24 low. On the upside, a move above 743.10, Mar 8 high would expose 751.20, Jan 13 high.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok