USD/CLP may fall to 870.85 - 891.72

Our pivot point stands at 961.01.

Our preference

Under pressure below 961.01.

Alternative scenario

The upside breakout of 961.01, would call for 996.07 and 1016.94.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 944.17 and 935.14).

Supports and resistances

1016.94 **

996.07 *

961.01 **

947.23

933.46 last

891.72

870.85 **

849.98 *

829.10 **

Number of asterisks represents the strength of support and resistance levels.