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US EURODLR OPTIONS

Profit Taking In 2EZ Put Spread

US 10YR FUTURE TECHS

(Z1)‌‌ Bearish Follow Through

OPTIONS

Expiries for Sep29 NY cut 1000ET (Source DTCC)

EMERGING MARKETS
  • USDMXN remains closer to recent lows. The clear breach this week of 20.0742, Feb 3 low highlights the risk of a deeper sell-off and opens 19.8546, Jan 25 low. A deeper retracement would also expose 19.5494, Jan 21 low and a key support. The pair needs to break above 20.5996, Jan 29 high to reinstate a bullish theme.
  • USDBRL is consolidating and remains above recent lows with support defined at 5.3056, Feb 8 low. A clear break of this level would threaten a deeper pullback towards 5.2358, Jan 21 low.
    • An ability to hold above recent supports keeps a near-term bullish tone intact with key resistance and the bull trigger at 5.5262, Jan 25 high.
  • USDCLP maintains a bullish theme although the pair has traded lower this week. 711.00 provided strong support on Jan 21 and as long as price is able to hold above this level, scope is seen for a climb towards 751.20, the Jan 13 high.
    • Sub 711.00 levels though would expose a deeper sell-off with the major support at 693.00, Jan 6 low.