FX Review – three exotic pairs to watch USDMXN, USDBRL and USDINR
Eddie Tofpik Head of FX at ADMISI speaks to Matt Brown about the outlook for the currencies of Mexico, India and Brazil.
A key indicator of President Donald Trump’s success, after the failure of Obamacare reform in the middle of 2017, where the USD weakened. With the likelihood of a push up to 19.75, key 50% fib level. If however, the head and shoulder is confirmed then there is a chance the USDMXN could trade down to 15.
with expectations that emerging market currencies should be volatile, the trading range for the Brazilian Real has been surprisingly tight. After a Doji cross in the previous month and one 3 months ago, with the sideways move potentially meaning the pair is basing and could move higher, although it is technically hard to call the move just yet
60.17 is a double top, breaking through every moving average except the 5 year. The pair may test the downside, breaking through support. The key levels are 58.22 and 63.55