- The USD/CLP hit a low of 897.39, reaching levels not seen since January 8.
- The Chilean Peso has broken the key level of 900.00 heading towards 875.00
USD/CLP reached a high of 907.55 in the European session. However, during the American session the bearish trend resumed strongly and reached a minimum of 897.39.
The Chilean peso appreciates for the fourth consecutive day
The president of Chile, Gabriel Boric, will open calls for lithium producers during the second half of 2024. Chile is the second largest producer of lithium in the world and plans a strategy to take advantage of its mineral resources with national and foreign companies. These statements have favored the Chilean peso, which leads the appreciation of Latin American currencies.
Technical levels in the Chilean Peso
In the medium term we observe the first support at 875.00, given by the pivot points. The second support is found in the area of 776.00, minimum of January 30, 2023. The closest resistance is located at 960.00, maximum of the session of April 29, 2024.
Chilean Peso Weekly Chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
