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USDCLP Testing Breakout Above 50-day EMA

CHILE
  • USDCLP has broken back above the 50-day EMA at 727.32 and is currently up 1.2% on the day, above 730. As mentioned in our technical note, a confirmed break above here may target an extension to 740.35. This comes despite copper futures recovering 1% back to 416.
  • In line with regional weakness, USDMXN has turned positive on the session, bouncing from 20.60 as well as USDBRL continuing it's rally above 5.70, despite further BCB intervention.

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