USD/COP may rise 2515 - 3765 pips

Our pivot point is at 4122.40.

Our preference

Rebound towards 4176.60.

Alternative scenario

The downside breakout of 4122.40 would call for 4101.30 and 4088.70.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (4138) but under its 50 period moving average (4142.90).

Supports and resistances

4201.70 **

4189.20 *

4176.60 **

4164.10

4138.95 last

4130.70

4122.40 **

4101.30 *

4088.70 **

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