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TECHS: LatAm FX Price Signal Summary: USD Outlook Remains Bullish

EMERGING MARKETS
  • USDMXN maintains a bullish tone and following yesterday's gains is trading closer to recent highs. Attention is on last week's high of 21.0477, Feb 26 high where a break would signal scope for a climb towards 21.50.
    • Key near-term support has been defined at 20.3504, Feb 24 low and within the area of support highlighted by both the 20- day and 50-day EMAs.
  • USDBRL remains firm despite the most recent volatile price action.
    • The pair has cleared all key retracements of the downleg between Oct - Dec 2020.
    • Attention is on the 5.80 handle and the 5.8080, Oct 30 2020 high and a key resistance.
    • On the downside, firm support is seen at 5.5334, the Feb 22 high and a recent breakout level.
  • USDCLP remains firm. The pair has this week cleared the 50-day EMA and the break signals an extension of the rebound from last week's low of 699.19 on Feb 24. This has opened 740.35, Feb 8 high. On the downside, 699.19 marks the key support. Initial support lies at 716.75, Feb 26 low.
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