- The Dollar Index (DXY) has reacted higher, reaching three-day highs.
- USD/CLP has formed a consolidation range between 912 and 881 in the last two weeks.
The USD/CLP started the European session with a low of 896.30, finding buyers that took the pair to a daily high of 903.6 during the American session. Currently, it is trading at 901.37 gaining 0.5% on the day.
The dollar rebounds and reaches three-day highs
The Dollar Index (DXY) started the day by setting a daily low of 104.59 during the European session, finding buyers who have taken the index to 105.04, today's high. It is currently trading at 104.98 with intentions of visiting higher levels.
The Chilean Peso has consolidated in a range between 912.85 and 881.85 over the past two weeks, preparing for the next directional move.
Technical levels in the Chilean Peso
The USD/CLP is in a bearish trend and the first resistance is found at 915.87, given by the pivot points and the retracement to the 50% Fibonacci retracement in convergence with the 21-day moving average. The closest support is located at the 78.6% Fibonacci retracement, the next support is at 840.18, the session low of November 2.
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.
