USD/COP may rise 2526 - 3796 pips

Our pivot point stands at 3997.50.

Our preference

The upside prevails as long as 3997.50 is support.

Alternative scenario

The downside breakout of 3997.50 would call for 3976.20 and 3963.60.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4011.40 and 4011.90).

Supports and resistances

4077.40 **

4064.70 *

4052.10 **

4039.40

4014.14 last

4005.80

3997.50 **

3976.20 *

3963.60 **

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