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Tech Focus: LatAm FX Price Signal Summary: USDBRL Trades Through 5.00

EMERGING MARKETS
  • USDMXN needle still points north despite this week's retracement. A bullish theme follows last week's gains and scope is seen for an extension higher. The breach of 20.6172, 50.0% retracement of the Mar 8 - Jun 9 downleg opens 20.8576, the 61.8% level. Next support is seen at 20.0930, the 50-day EMA.
  • USDBRL traded lower yesterday and 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 yesterday and price remains below yesterday's high print of 757.60. This level marks the key short-term resistance. A deeper pullback would signal scope for a test 725.89, the 20-day EMA. The 50-day EMA intersects at $720.10.

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