USD/CLP may fall to 843.04 - 863.80

Our pivot point is at 932.69.

Our preference

The downside prevails as long as 932.69 is resistance.

Alternative scenario

Above 932.69, look for 967.56 and 988.31.

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 936.83 and 931.20). Finally, the USD/CLP is trading below its lower Bollinger band (standing at 908.64).

Supports and resistances

988.31 **

967.56 *

932.69 **

919.00

905.30 last

863.80

843.04 **

822.29 *

801.54 **

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