USD/COP may rise 2951 - 4421 pips

Our pivot point stands at 3992.80.

Our preference

As long as 3992.80 is support look for 4056.50.

Alternative scenario

Below 3992.80, expect 3968 and 3953.30.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4012.10 and 4003).

Supports and resistances

4086.00 **

4071.30 *

4056.50 **

4041.80

4012.29 last

4002.60

3992.80 **

3968.00 *

3953.30 **

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