USD/COP may rise 2259 - 3399 pips

Our pivot point stands at 3808.20.

Our preference

The upside prevails as long as 3808.20 is support.

Alternative scenario

The downside breakout of 3808.20 would call for 3789.20 and 3777.80.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3819.70 and 3817.90).

Supports and resistances

3879.70 **

3868.40 *

3857.10 **

3845.70

3823.11 last

3815.60

3808.20 **

3789.20 *

3777.80 **

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