USD/CLP may rise to 989.67 - 1011.87

Our pivot point stands at 915.98.

Our preference

The upside prevails as long as 915.98 is support.

Alternative scenario

The downside breakout of 915.98 would call for 878.69 and 856.49.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 923.14 and 926.45).

Supports and resistances

1056.26 **

1034.07 *

1011.87 **

989.67

945.28 last

930.63

915.98 **

878.69 *

856.49 **

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