USD/COP may rise to 4230.20 - 4314.40

Our pivot point is at 3950.90.

Our preference

The upside prevails as long as 3950.90 is support.

Alternative scenario

The downside breakout of 3950.90 would call for 3809.60 and 3725.40.

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 4021 and 4014.40).

Supports and resistances

4482.60 **

4398.50 *

4314.40 **

4230.20

4061.97 last

4006.40

3950.90 **

3809.60 *

3725.40 **

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