Free Trial

TECHS: LatAm FX Price Signal Summary: USD Remains Firm

EMERGING MARKETS
  • USDMXN is holding onto this week's gains.
    • The pair has confirmed a clear break of resistance at 20.2631, Jan 11 high.
    • This paves the way for a climb towards 20.50 ahead of 20.6641, the Dec 21 high.
    • Initial support is at 19.950, the 20-day EMA.
  • USDBRL maintains a firmer posture.
    • The pair this week found support at the 50-day EMA - Tuesday's 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, the Nov 6 high.
    • 5.3133 marks support, Jan 21 low.
  • USDCLP maintains a bullish tone despite yesterday's pullback. 711.00 provided strong support on Jan 21 and following this week's gains, attention has turned to resistance at 751.20, the Jan 13 high.

To read the full story

Close

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.