USD/COP may rise 2956 - 4436 pips

Our pivot point is at 3999.00.

Our preference

Rebound towards 4062.90.

Alternative scenario

The downside breakout of 3999 would call for 3974.20 and 3959.50.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4018.80 and 4029).

Supports and resistances

4092.40 **

4077.60 *

4062.90 **

4048.10

4018.54 last

4008.80

3999.00 **

3974.20 *

3959.50 **

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