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TECHS: Price Signal Summary: USDMXN Key Support Remains Exposed

LATAM FX
  • USDMXN remains within its current range as the pair continues to consolidate. The outlook though remains bearish. Attention is on key support at 19.5987, Jun 9 low where a break would strengthen a bearish case and open 19.5494, Jan 21 low. Price needs to get above 20.2153, Jun 24 high to alter the picture.
  • USDBRL remains firm and is holding onto recent gains. The pair has breached the 50-day EMA. A continued push higher would open 5.3839, 50.0% of the Mar - Jun sell-off. A failure to hold onto gains above the EMA would instead signal a potential top and if confirmed, would expose 4.8934, the Jun 25 low. The 50-day EMA at 5.0917 marks initial support.
  • USDCLP rallied last week and remains bullish. Attention is on the key resistance and bull trigger at 757.60, Jun 22 high - this level was probed Thursday. A clear break would confirm a resumption of the recovery that started May 10 and open 769.99, Nov 30, 2020 high. Key support is at 722.25, Jun 30 low. Initial support is at $737.15, the 20-day EMA.
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