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Focus On FOMC, Greenback Modestly Softer


TTF Falls Back From Earlier Spike


Equinor Targeted Gas in Q2


Block trade


(U2)‌‌ Sights Are On Key Resistance

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  • The USDMXN trend direction remains down with key resistance defined at 20.3270, May 4 high. A bearish theme follows a recent break of trendline support drawn off the Jan 21 low and a move through the Mar 18 low of 20.2829, a former key support. The April low of 19.7850 on Apr 20 has been breached. An extension lower would strengthen a bearish case and open 19.5494, the Jan 21 low and primary support.
  • USDBRL maintains a bearish tone. A recent break of trendline support drawn off the Dec 14, 2020 low and a bearish triangle breakout on Apr 19 highlights a bearish theme. The 5.2145, 76.4% retracement of the Dec - Mar rally, has held but remains exposed. A clear break would open 5.1210, the Jan 4 low.
    • A firm near-term resistance is at 5.4837, May 4 high. Initial resistance is at 5.3687, the 20-day EMA.
  • USDCLP gapped higher at yesterday's open. As a result, resistance at 715.36, Apr 23 high has been cleared and technically this highlights a short-term reversal. If the USD is able to hold onto gains and extend higher, this would open 728.00, the Mar 31 high. The gap low of 706.45, May 14 high is a firm short-term support. Currently, the pullback is considered a correction.
MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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