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USDCLP Short-Term Base

CHILE

Quiet week for Chile with no domestic data or event risk. After another very brief test under 730, USDCLP has caught a bid and has bounced just shy of 1% to 736.


With a steady Bloomberg commodity index and the Fed tomorrow, the pair may lack the momentum for another leg lower right now and will most likely be driven by the DXY and Global Equities.

  • Short term support now comes in at 729.25
  • A more pronounced squeeze should be met with very firm resistance at 747/750

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