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TECHS: LatAm FX Price Signal Summary: USDMXN Finds Support

EMERGING MARKETS
  • USDMXN has failed to follow through on this week's probe of support at 19.601, Jan 6 low and instead has recovered from yesterday's low of 19.5494.
    • For bulls, a clear breach of the 50-day EMA is required to signal a reversal - the average intersects at 20.0824 today. Note too that there is a bull trigger at 20.2631, Jan 11 high.
    • On the downside, key support is at 19.5494.
  • USDBRL choppy price action this week resulted in a rally yesterday and the pair has gapped higher today, highlighting a potential bullish theme. Further gains would open the key resistance at 5.5160, Jan 11 high.
  • USDCLP sold off sharply Wednesday and followed through yesterday. This week's price action highlights a reversal of the rally between Jan 6 - 13. Attention is on 706.75, Jan 7 low ahead of key support at 693.00, Jan 6 low. Initial resistance is at 739.64, Jan 18 high.

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