USD/CLP may fall to 859.37 - 880.58

Our pivot point is at 951.01.

Our preference

The downside prevails as long as 951.01 is resistance.

Alternative scenario

Above 951.01, look for 986.65 and 1007.86.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 941.43 and 936.54).

Supports and resistances

1007.86 **

986.65 *

951.01 **

937.01

923.01 last

880.58

859.37 **

838.16 *

816.94 **

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