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TECHS: LatAm FX Price Signal Summary: USDCLP Weakness Extends

LATAM FX
  • USDMXN is unchanged and consolidating closer to recent lows. The pair has recently cleared all relevant retracement levels of the rally between Jun 9 - 18. Attention is on the key support at 19.5987, Jun 9 low. Price needs to get above 20.2153, Jun 24 high to ease the current bearish pressure.
  • The USDBRL needle still points south. The pair last week breached the psychological 5.00 handle. This reinforces bearish conditions and the focus is on 4.8187, Jun 8 2020 low. Near-term resistance is at 5.1386, Jun 11 high.
  • USDCLP continues to trade in a volatile manner and is weaker. The sharp reaction off 757.60, Jun 22 high has extended and price is lower again today. An extension would open 713.80, Jun 8 low and a key short-term support. Initial resistance is at yesterday's high of 738.72.
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