FX Snapshot in LatAm space – BBH

Analysts at BBH have given their opinion on the FX prospects for the main pairs in the LatAm space.

Key Quotes

“USD/BRL has fully retraced the May rise and is making new lows for the year.  The break below the April 29 low near 3.43 sets up a test of the mid-July low near 3.1150.  The 200-day MA comes in near 3.7845”. 

“USD/CLP has retraced nearly two thirds of the May rise.  A clean break of the 62% retracement objective near 673 would set up a test of the April low near 655.  The 200-day MA comes in near 693”.

“USD/MXN has retraced around a third of the May rise.  Retracement objectives from that rise come in near 18.09, 17.89, and 17.69.  A break below 17.69 would set up a test of the April 29 low near 17.05.  The 200-day MA comes in near 17.47”.