USD/COP may fall to 3755.70 - 3852.00

Our pivot point stands at 4171.60.

Our preference

Target 3755.70.

Alternative scenario

The upside breakout of 4171.60, would call for 4333.30 and 4429.60.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (4114.90) but above its 50 period moving average (3973.40).

Supports and resistances

4429.60 **

4333.30 *

4171.60 **

4108.10

4044.53 last

3852.00

3755.70 **

3659.40 *

3563.20 **

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