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TECHS: LatAm FX Price Signal Summary: USDCLP Trading Lower

EMERGING MARKETS
  • USDMXN is firmer and the support at 19.8924, Feb 15 low remains intact. Gains though are considered corrective. The clear breach last week of 20.0742, Feb 3 low highlights the risk of a deeper sell-off and opens 19.8546, Jan 25 low.
    • A deeper retracement would also expose 19.5494, Jan 21 low and a key support.
    • The pair needs to break above 20.5996, Jan 29 high to reinstate a bullish theme.
    • Initial resistance though is at 20.2452, Feb 2 high.
  • USDBRL continues to consolidate and remains above recent lows with support defined at 5.3056, Feb 8 low. A clear break of this level would threaten a deeper pullback towards 5.2358, Jan 21 low.
    • An ability to hold above the supports keeps a near-term bullish tone intact with key resistance and the bull trigger at 5.5262, Jan 25 high.
  • USDCLP is trading lower again today and extending last week's sell-off. Attention is on support at 711.00, Jan 21 low. A break would expose the potential for a deeper sell-off with the major support at 693.00, Jan 6 low. Initial resistance is at 727.55, Feb 12 high.
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