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The price of the dollar reversed the initial trend and closed higher this Tuesday due to a technical rebound, after four consecutive sessions of losses and having scored its lowest level since September 2019 in the previous session, although analysts estimate that it should resume the falls.
The US currency ended operations with an advance of $ 2.2 to a selling point of $ 715.05.
However, from its historical maximum of $ 868.6 registered in March, it accumulates a setback of $ 153.6, while so far this year it falls by $ 41.12.
“We would expect some bullish bounces for the dollar, as long as it remains above $ 710, as it is at technical oversold levels, as well as copper near highs and close to overbought levels, which could translate into bearish corrections. in the short term, ”said Sebastián Espinosa, market analyst at XTB Latam.
“However, this does not mean that we will start to see a bullish dollar in any case. It is likely that if these corrections occur or not, the exchange rate will try to touch the zone between $ 700 and $ 705 again, ″ he added.
Meanwhile, Ricardo Bustamante, Head of Trading Studies at Capitaria, indicated that “despite a possible volatility in the short term, in the midst of a very low transaction volume, we could see drops of the cross to $ 700 as psychological support, especially if we consider the approval of new stimuli in the United States and a favorable economic outlook in Chile due to the withdrawal of funds ”.
On the external level, the dollar index, which measures the currency against a basket of 6 liquid currencies including the euro, fell 0.41% to 89.96 points.
Meanwhile, three-month copper futures, the country’s main export, fell 0.14% to US $ 3.5660 a pound on the London Metal Exchange.
