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TECHS: LatAm FX Price Signal Summary: USD Likely To Remain Firm

EMERGING MARKETS
  • Despite being slightly weaker today, USDMXN is holding onto the bulk of recent gains.
    • The pair last week confirmed a clear break of resistance at 20.2631, Jan 11 high.
    • This paves the way for a climb towards 20.6641, Dec 21 high.
    • Initial support is at 20.010, the 20-day EMA.
  • USDBRL maintains a firmer posture.
    • The pair last week found support at the 50-day EMA - the Jan 26 low was at 5.3133, just below the average.
    • The ability to hold above this average is a positive development - technical indicators continue to highlight a bullish backdrop.
    • Attention is on 5.5262, Jan 25 high. A break would open 5.5733, Nov 6 high.
    • 5.3133 marks support, Jan 21 low.
  • USDCLP maintains an underlying bullish tone despite the recent pullback. 711.00 provided strong support on Jan 21 and following last week's gains, attention remains on 751.20, the Jan 13 high. Key support lies at 711.00, Jan 21 low.
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