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Tech Focus: LatAm FX Price Signal Summary: USDMXN Clears All Relevant Retracements

EMERGING MARKETS
  • USDMXN remains on the defensive as this week's sell-off extends. The pair has cleared all relevant retracement levels of the rally between Jun 9 - 18 and attention turns to the key support at 19.5987, Jun 9 low. Price needs to get above 20.4082, Jun 23 high to ease the current bearish pressure.
  • USDBRL continues to trade lower. The pair has this week breached the psychological 5.00 handle. This reinforces bearish conditions and the focus is on 4.8187, 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 register a break of the 20-day EMA at 727.50. The EMA was tested yesterday. The 50-day EMA intersects at $721.23.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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