Chile Markets Morning Update: USD/CLP Slips Back Toward 860 As IPSA Takes A Breather

Key Points

1. USD/CLP is near 859.72 after a volatile week, with 851.27 as the key low.
2. The downtrend remains intact, but short-term momentum is less stretched than earlier.
3. IPSA is near 11,523 after a sharp pullback, while the broader uptrend still holds.

USD/CLP is trading around 859.72 this morning. The daily candle shows O858.54, H866.43, L851.27, C859.72. That is a decline of about 0.75% from the prior close.

The week remains the main story. Weekly pricing shows O861.95, H869.32, L851.27, C859.72. The market has not broken the downtrend. It has simply become more volatile around fresh lows.

Global business and policy news has been the dominant driver. Traders have been repricing U.S. policy risk, including leadership uncertainty around the Federal Reserve.

That has pushed bond yields around and made the dollar direction choppy. When the dollar firms, USD/CLP tends to bounce. Chile’s domestic anchor has been monetary policy.

The central bank held the policy rate at 4.5% in January. The message leaned cautious but steady. That keeps carry support alive, even as global volatility rises.

Technicals show a market still heavy, but no longer in free fall. On the weekly chart, RSI is about 21.67, with the average near 34.72. That is extreme and keeps squeeze risk high.

On the daily chart, RSI is about 29.94, with the average near 31.92. The 4-hour RSI is about 28.22, with the average near 34.81. Momentum improved from the deepest oversold readings earlier this week. Price action is still below heavy moving-average resistance.

The key levels are tight. Support sits near 859–860, then 853.90, then 851.27. Resistance starts near 860.30 and 860.69, then 865.33 and 866.43. Above that, 872.57–879.91 is the next ceiling band.

Chile’s IPSA is finally showing fatigue. The daily bar shows O11,627.58, H11,650.32, L11,475.31, C11,523.45. That is a drop of about 0.90% on the day.

Momentum is cooling, but it remains elevated. On the 4-hour chart, RSI is about 64.50, with the average near 72.16. On the daily chart, RSI is about 73.70, with the average near 76.98. On the weekly chart, RSI is about 79.72, with the average near 86.48.

For the IPSA, first support is 11,475–11,497. Next support sits around 11,372–11,333. Resistance is 11,553, then 11,650, then the 11,721 weekly high.

This is part of The Rio Times’ daily coverage of Chilean markets and Latin American financial news.

For context on regional markets, see Brazil’s Ibovespa for the same session.

Also tracking regional peers: Colombia’s COLCAP closed the same session.