CHILE: BCCh Reserve Accumulation Plan Not Intended to Affect Exchange Rate

CBK (19/06/26) 12p vs (18/06/27) 20p, bought the 2027 for 2.92 in 40k.

• In FX, the trend condition in EURUSD remains bullish with price trading closer to its recent highs. Moving average studies are in a bull-mode position highlighting a clear uptrend and note too that corrections, when they do occur, have been shallow. This reinforces the trend condition. A resumption of gains would signal scope for a climb towards 1.1851, the Sep 10 2021 high. Key short-term support to watch lies at 1.1630, the 20-day EMA.
• A bull cycle in GBPUSD remains in play and the latest pullback appears to be a correction. Support to watch is 1.3602, the 20-day EMA. A clear break of it would signal scope for a deeper correction towards the 50-day EMA at 1.3462. Key resistance and the bull trigger has been defined at 1.3789, the Jul 1 high. Clearance of this hurdle would resume the uptrend. Note that MA studies are in a bull-mode position - this suggests the M/T uptrend remains intact.
• USDJPY has started the week on a firmer note. Price has breached the 50-day EMA, at 144.91, and a close above it would highlight a stronger reversal. This would expose 146.19, the Jun 24 high. For now, gains still appear corrective. Moving average studies are in a bear-mode position, signalling a dominant downtrend. A resumption of weakness would open 142.12, the May 27 low and a key short-term support.

2RH6 97.75/97.25ps 1x4, bought the 4 for 4.5 in 2.25k (sold the 1).