USD/COP may rise 2973 - 4453 pips

Our pivot point stands at 4021.80.

Our preference

The upside prevails as long as 4021.80 is support.

Alternative scenario

The downside breakout of 4021.80 would call for 3996.80 and 3982.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4038.90 and 4038.50).

Supports and resistances

4115.60 **

4100.80 *

4085.90 **

4071.10

4041.37 last

4031.60

4021.80 **

3996.80 *

3982.00 **

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