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Timeline of key events (Times BST)

EURGBP TECHS

Bearish Threat Remains Present

GBPUSD TECHS

Through Last Week’s Highs

EURUSD TECHS

Challenging The 20-Day EMA

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EMERGING MARKETS
  • USDMXN is trading lower again today.
    • The pair has confirmed a clear break of trendline support drawn off the Jan 21 low. The line intersects at 20.5644 today.
    • Attention turns to support at the Mar 18 low of 20.2829 where a break would strengthen a bearish argument and expose the 20.00 handle.
    • On the upside, resistance is seen at 20.7883, Mar 289 ahead of the key level at 20.9695, Mar 24 high.
  • A sharp sell-off yesterday in USDBRL is considered corrective with the bull theme still in place. This follows strong gains between Mar 19 - 29. Attention is on 5.8743, Mar 9 high.
    • On the downside, a move below 5.4499, Mar 19 is required to reinstate a bearish threat.
    • Initial support however lies at 5.5861, 61.8% retracement of the Mar 19 - 29 rally.
  • USDCLP remains below resistance at 743.10, Mar 8 high. Support has been defined at 713.97, Mar 22 low where a break is required to reinstate a bearish threat. On the upside, clearance of 743.10, Mar 8 high would expose 751.20, Jan 13 high.
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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