USD/COP may rise 2437 - 3667 pips

Our pivot point stands at 4067.40.

Our preference

As long as 4067.40 is support look for 4120.20.

Alternative scenario

Below 4067.40, expect 4046.90 and 4034.70.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4079.30 and 4059.30).

Supports and resistances

4144.60 **

4132.40 *

4120.20 **

4107.90

4083.53 last

4075.50

4067.40 **

4046.90 *

4034.70 **

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