USD/COP may rise 2441 - 3661 pips

Our pivot point stands at 4063.20.

Our preference

As long as 4063.20 is support look for 4115.90.

Alternative scenario

Below 4063.20, expect 4042.70 and 4030.50.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (4081.30) but above its 50 period moving average (4072.90).

Supports and resistances

4140.30 **

4128.10 *

4115.90 **

4103.70

4079.29 last

4071.20

4063.20 **

4042.70 *

4030.50 **

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