LATAM FX: Price Signal Summary: USDCLP Holds On To Its Recent Gains
Jun-16 12:48
- USDMXN maintains a bullish tone following this week’s gains. The rally has resulted in a print above 20.6378, the Apr 28 high. It marks an important resistance and a clear break would suggest potential for an extension higher. This would open 20.6830 (tested) and 20.9829, the 61.8% and 76.4% retracements of the Mar - May bear leg. Key support has been defined at 19.4136, May 30 low. Initial support is at 19.9430, the 20-day EMA.
- USDCLP traded sharply higher on Jun 10 to confirm a reversal of the bear cycle between May 12 - Jun 3. The USD has also traded higher this week and is holding on to the bulk of recent gains. The rally has delivered a print above key near-term resistance at 871.60, the May 12 high. Clearance of this resistance would expose the major hurdle for bulls at 878.86, the Mar 19 2020 high. Key short-term support has been defined at 807.85. Initial support is at 846.43, the Jun 10 high and gap low on the daily chart.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GILT PAOF RESULTS: GBP437.499mln of the 1.25% Jul-51 gilt sold
May-17 12:37
- A total of GBP437.5mln had been available.
- This leaves GBP18.08bln of the gilt in issue.
MNI:US APR RETAIL SALES +0.9%; EX-MOTOR VEH +0.6%
May-17 12:30
- MNI:US APR RETAIL SALES +0.9%; EX-MOTOR VEH +0.6%
- US MAR RETAIL SALES REVISED +1.4%; EX-MV +2.1%
- US APR RET SALES EX GAS & MTR VEH & PARTS DEALERS +1.0% V MAR +1.2%
- US APR RET SALES EX MTR VEH & PARTS DEALERS +0.6% V US APR +2.1%
- US APR RET SALES EX AUTO, BLDG MATL & GAS +1.2% V MAR +1.2%
MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +46.9B CAD IN MAR
May-17 12:30
- MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +46.9B CAD IN MAR
- CANADIAN HOLDINGS OF FOREIGN SECURITIES -24.0B CAD IN MAR
