USD/COP may rise 2726 - 4096 pips

Our pivot point stands at 3955.90.

Our preference

As long as 3955.90 is support look for 4014.90.

Alternative scenario

Below 3955.90, expect 3933 and 3919.30.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (3975.10) but above its 50 period moving average (3970.60).

Supports and resistances

4042.20 **

4028.60 *

4014.90 **

4001.20

3973.94 last

3964.90

3955.90 **

3933.00 *

3919.30 **

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