USD/COP may rise 2770 - 4150 pips

Our pivot point stands at 4073.20.

Our preference

Rebound towards 4133.00.

Alternative scenario

Below 4073.20, expect 4050 and 4036.10.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (4091.30) but below its 50 period moving average (4096.40).

Supports and resistances

4160.70 **

4146.90 *

4133.00 **

4119.20

4091.50 last

4082.40

4073.20 **

4050.00 *

4036.10 **

Number of asterisks represents the strength of support and resistance levels.