- USD/CLP has broken the technical resistance of 920.00 and is getting ready to reach the key level of 940.00.
- The Dollar Index (DXY) operates at levels not seen since May 14.
The USD/CLP started the European session recording a daily low at 920.44, reacting higher and reaching a daily high at 926.17. Currently, the price of the US Dollar against the Chilean Peso is trading at 924.53, gaining 0.39% on the day.
Dollar Index (DXY) Hits One-Month Highs Awaiting Fed Rate Decision
The DXY has reacted higher from the key support at 104.00. Today it registered a low at 105.09, finding buyers who took the US Dollar to a daily high of 105.46, a level not seen since May 14, gaining 0.23%.
USD/CLP has formed a series of higher lows, marking its third consecutive session higher and breaking the psychological barrier at 920.00, targeting the key level at 940.00.
Technical levels in the USD/CLP
The closest support is at 900, the June 5 session low. The next key support is seen at 881.85, the low of May 20. The nearest resistance lies at 940.00, given by the pivot points converging with the 50% Fibonacci retracement. The next resistance is in the area between 965.00 and 960.00, given by the 23.6% Fibonacci retracement.
Chilean Peso daily 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.
