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USDCLP Continues To Test Initial Resistance At The 20-Day EMA

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  • While the technical outlook for USDCLP remains bearish, the pair has been garnering some support around the 785 mark in recent weeks. January’s breach of the 800.00 handle had opened the potential for a move to 771.89, the Mar 29 2022 low, which remains the key technical support below. On the upside, price has been testing and thus far respecting the 20-day exponential moving average, which intersects today at 800.52. A break of this level may threaten a move to key resistance at the 50-day EMA at 825.85.
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  • While the technical outlook for USDCLP remains bearish, the pair has been garnering some support around the 785 mark in recent weeks. January’s breach of the 800.00 handle had opened the potential for a move to 771.89, the Mar 29 2022 low, which remains the key technical support below. On the upside, price has been testing and thus far respecting the 20-day exponential moving average, which intersects today at 800.52. A break of this level may threaten a move to key resistance at the 50-day EMA at 825.85.