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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

EMERGING MARKETS
  • USDMXN outlook is bearish and attention is on support at 19.7197, May 18 low. Key resistance has been defined at 20.3270, May 4 high. A bearish theme follows the sell-off since Mar 8 and a price sequence of lower lows and lower highs dominates. An extension lower would strengthen the bearish case and open 19.5494, the Jan 21 low and a primary support.
  • USDBRL maintains a bearish tone and recent gains are considered corrective. The break in mid-April of trendline support drawn off the Dec 14, 2020 low followed by a bearish triangle breakout highlights a bearish theme. 5.2145, 76.4% retracement of the Dec - Mar rally, has recently 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.
  • USDCLP is sharply higher today as it extends the strong recovery from 690.32, May 10 low.
    • The climb exposed the next area of resistance between 740.22, Mar 29 high and 743.10, Mar 8 high.
    • Clearance of these two levels would open 751.20, Jan 13 high and a key resistance.
    • Support is seen at 719.38, yesterday's low.
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com