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TECHS​ Price: Signal Summary: USDCLP Needle Still Points South

LATAM FX
  • USDMXN is slightly firmer, the outlook remains bearish though. The pair has recently cleared all relevant retracement levels of the rally between Jun 9 - 18. Attention is on the key support at 19.5987, Jun 9 low. Price needs to get above 20.2153, Jun 24 high to ease the current bearish pressure.
  • The USDBRL needle still points south despite the recent corrective bounce. The pair last week cleared the psychological 5.00 handle. This reinforces bearish conditions and the focus is on 4.8187, Jun 8 2020 low. Near-term resistance is at 5.1386, Jun 11 high.
  • USDCLP continues to trade in a volatile manner and maintains a weaker tone. The sharp bearish reaction off 757.60, Jun 22 high resulted in a steep move lower. Further weakness would open 713.80, Jun 8 low and a key short-term support. Initial resistance is at 738.72, Jun 29 high.

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