Trial now
USDCAD TECHS

Approaching Major Support

US TSYS SUMMARY

Inflation Concerns Underpin Bear Steepening

AUDUSD TECHS

Bullish Theme

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

  • USDMXN maintains a bearish tone and traded lower again yesterday.
    • A bearish theme follows the recent clear break on Mar 31 of trendline support drawn off the Jan 21 low.
    • The pair has also cleared the Mar 18 low of 20.2829 - a former key support level and this strengthens a bearish argument. The focus is on 19.8924, Feb 15 low. A break would open 19.5494, Jan 21 low.
    • On the upside, resistance is at 20.3805, Apr 5 high.
  • USDBRL has pulled back from recent highs.
    • The pair last week traded below trendline support drawn off the Dec 14 low but has failed to confirm a clear break to signal a stronger reversal and expose support at 5.4499.
    • Note too that price action since Mar 9 appears to be trading within a triangle. This pattern is potentially a bullish one - a break of 5.7558, Apr 13 high would confirm a bullish pattern breakout and signal scope for a climb towards 5.8743, Mar 9 high and a key resistance.
    • Key near-term support is unchanged at 5.5396, Apr 8 low.

  • USDCLP remains weak and is trending lower. The pair has probed a key support at 699.19, Feb 24 low. This signals scope for weakness towards the primary support at 693.00, Jan 6 low. A break of this level would confirm a resumption of the broader downtrend that started March 2020. Initial resistance is at 714.50, Apr 13 high.