USD/COP may fall 2468 - 3698 pips

4082.80 is our pivot point.

Our preference

Target 4029.50.

Alternative scenario

The upside breakout of 4082.80, would call for 4103.50 and 4115.80.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (4070.10) but above its 50 period moving average (4062.30).

Supports and resistances

4115.80 **

4103.50 *

4082.80 **

4074.60

4066.48 last

4041.80

4029.50 **

4017.10 *

4004.80 **

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