Price of the Dollar in Chile today, October 30: The Chilean Peso reaches lows of almost three months

• The Dollar rises 0.38% on the day against the Chilean Peso, reaching highs in almost three months.
• U.S. private sector employment rises to 233,000 positions in October, surpassing analyst estimates.
• The preliminary Gross Domestic Product of the United States is below market expectations.
• Chile’s industrial production registered a drop of 0.3% in October.

USD/CLP set a daily low at 942.54, where it found aggressive buyers that took the cross to a nearly three-month high not seen since August 2. At the time of writing, the US Dollar is trading at 960.08 against the Chilean Peso, gaining 0.38% today.

The Chilean peso hits almost three-month lows after a rebound in employment in the US private sector.

Based on information presented by the Bureau of Economic Analysis, the United States Gross Domestic Product expanded 2.8% at an annualized rate during the third quarter of the year. This figure is less than the 3% price and estimate by analysts.

In this context, employment in the US private sector increased by 233,000 people in October, exceeding the 115,000 expected and the 159,000 registered in September.

On the other hand, the National Institute of Statistics of Chile released annualized industrial production, registering a drop of 0.3% in September after an increase of 5.2% achieved in August.

Technical levels in the USD/CLP

The Chilean Peso formed short-term support given by the October 24 low at 940.90. The next support zone is at 894.25, the September 30 pivot point.

To the upside, the key resistance zone is at 989.40, the high reached on April 16. The Relative Strength Index is at 68.84, above the midline of 50, favoring buyers in the short term with clear intentions of reaching the key level of 990.00.

Chilean Peso Daily Chart