USD/COP may fall 2825 - 4235 pips

Our pivot point stands at 4054.90.

Our preference

The downside prevails as long as 4054.90 is resistance.

Alternative scenario

Above 4054.90, look for 4078.60 and 4092.70.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4037.40 and 4044.30).

Supports and resistances

4092.70 **

4078.60 *

4054.90 **

4045.60

4036.25 last

4008.00

3993.90 **

3979.80 *

3965.70 **

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