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CLP Unphased By Hawkish Statement, Remains Under Pressure

CHILE
  • Yesterday’s central bank action has resulted in no support for the Chilean peso, with USDCLP around 0.7% higher following the open.
  • Resistance at $849.25, the Nov 30 high, has been breached. This maintains the bullish price sequence of higher highs and higher lows and opens the 860.00 handle and 878.86 further out, the Mar 19 2020 high.
  • Focus turns to the upcoming second round election where the most recent polls have seen a slight narrowing between the polarising candidates.

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