View:
USD/CLP fresh upturn action looks to be the start of a new S/T move higher and we run with it now. We wanted to turn bullish closer to the 644/42 zone, but the upturn clearly occurred ahead of that zone. For today, there is room up to 655 at least, but we think that the S/T path over the next week is toward the key MA zone at 663.25/40 and that is our main S/T target.
Result:
USD/CLP extended through our main MA target zone at 663.25/40 a bit sooner than expected and managed to test the 200-day MA at 668.43 amid the week’s very strong move upside
