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Free AccessTECHS: LatAm FX Price Signal Summary: USD Finds Support
- USDMXN continues to strengthen following last week's failure to convincingly clear 19.6010, Jan 6 low.
- The rebound refocuses attention on the 50-day EMA where a break would signal a short-term reversal - the average intersects at 20.0781 today and price is currently above the average. Note too that there is a bull trigger at 20.2631, Jan 11 high.
- On the downside, key support has been defined at 19.5494, Jan 21 low.
- USDBRL is firmer today too and is extending the rally that started off the Jan 14 low and accelerated late last week. The pair has breached a key resistance at 5.5160, Jan 11 high where a clear break would reinforce bullish conditions and expose 5.5733, the Nov 6 high next. Initial support is at Friday's low of 5.3958.
- USDCLP has also rebounded. Last week's low of 711.00 on Jan 21 has provided a strong support and attention turns to resistance at 739.64, Jan 18 high. A break would open 751.20, the Jan 13 high.
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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.