USD/COP may fall to 3784.10 - 3872.40

Our pivot point stands at 4165.80.

Our preference

Under pressure below 4165.80.

Alternative scenario

Above 4165.80, look for 4314.20 and 4402.60.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4061.60 and 4060.10).

Supports and resistances

4402.60 **

4314.20 *

4165.80 **

4107.50

4049.14 last

3872.40

3784.10 **

3695.70 *

3607.30 **

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