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TECHS: LatAm FX Price Signal Summary: USDMXN Trading Closer To Recent Lows

  • USDMXN remains closer to recent lows. The clear breach last week of 20.0742, Feb 3 low highlights the risk of a deeper sell-off and opens 19.8546, Jan 25 low. A deeper retracement would also expose 19.5494, Jan 21 low and a key support. The pair needs to break above 20.5996, Jan 29 high to reinstate a bullish theme. Initial resistance is at 20.2452, Feb 2 high.
  • USDCLP is trading lower again today and extending last week's sell-off. Attention turns to support at 711.00, Jan 21 low. A break would expose the potential for a deeper sell-off with the major support at 693.00, Jan 6 low. Initial resistance is at 727.55, Feb 12 high.

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