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USDCLP Bounces From Fibonacci Support, Aided By Global Tensions

CHILE
  • Risk-off sentiment heavily impacting the Chilean peso with USDCLP rising 1.35% against the dollar. Yesterday’s low of 783.51 matched closely with touted support residing at 783.23, the 50.0% retracement of the May - Dec 2021 upleg.
  • 832.75, the Feb 7 high, marks the key short-term resistance. Initial resistance is at 807.70, the 20-day EMA.

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