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TECHS: LatAm FX Price Signal Summary: USDBRL Bulls Eye Key Resistance

EMERGING MARKETS
  • USDMXN remains above last week's low of 19.601 and yesterday tested the 50-day EMA at 20.2176. A clear breach of this average would expose resistance at 20.664, the Dec 21 high and an important reversal trigger. Key support remains 19.6010, Jan 6 low and is the bear trigger. The primary trend currently remains down.
  • USDBRL traded higher again yesterday extending the recovery that has dominated since mid-December. Attention is on key resistance at 5.5257, the Nov 13 high. The outlook remains constructive for bulls.
  • USDCLP is also off recent lows having defined a key support at 693.00, the Jan 6 low. The pair has today breached the 20-day EMA at 720.20. This opens the 50-day EMA, currently at 739.40.

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