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TECHS: LatAm FX Price Signal Summary: USDMXN Finds Support

EMERGING MARKETS
  • USDMXN is off recent highs but has found support. A positive outlook remains in place however with 20.0678, the 20-day EMA providing support.
    • The pair last week confirmed a clear break of resistance at 20.2631, Jan 11 high.
    • This paves the way for a climb towards 20.6641, Dec 21 high.
    • A clear breach of the 20-day EMA would highlight risk of a deeper sell-off though.
  • USDBRL attention is on support at 5.3133, Jan 26 low.
    • A break of this level would threaten a deeper pullback towards 5.2358, Jan 21 low.
    • The ability to hold above 5.3133 would maintain a near-term positive tone with key resistance and the bull trigger at 5.5262, Jan 25 high.
  • USDCLP is largely unchanged and maintains a positive bullish tone. 711.00 provided strong support on Jan 21 and following last week's gains, attention remains on 751.20, the Jan 13 high. Key support lies at the 711.00 level, Jan 21 low. Initial support is at 725.66, Jan 1 low.
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