USD/COP may fall to 3686.30 - 3788.00

Our pivot point stands at 4125.40.

Our preference

The downside prevails as long as 4125.40 is resistance.

Alternative scenario

Above 4125.40, look for 4296.20 and 4397.80.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4044.60 and 3991.80).

Supports and resistances

4397.80 **

4296.20 *

4125.40 **

4058.30

3991.26 last

3788.00

3686.30 **

3584.70 *

3483.10 **

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