- USD/CLP made a low at 903.43 during the American session, bearish pressure remains on the pair.
- The Chilean Peso approaches the key level of 900.00
The USD/CLP has strongly broken the 915.00 support, after a session in which Inflation data has weakened the US dollar. At the time of writing, the Chilean Peso is trading at 902.59
The bearish trend continues in the Dollar Index (DXY)
The Dollar Index has reached levels not seen since April 10, currently trading at 104.34 points. This has caused the currencies of emerging countries to appreciate recently. The bearish pressure remains strong, so we are targeting the 104.00-103.80 area.
Technical levels in the Chilean Peso
The closest technical support is located at 900.00, if we break this level we consider 875.00 in confluence with the pivot points and the retracement at 23.6% Fibonacci. The first resistance in the short term is found at 940.00, the second resistance is at 958.00 based on the pivot points and the 78.6% 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.
