USD/COP may rise 2045 - 3065 pips

Our pivot point is at 3825.30.

Our preference

Rebound towards 3869.40.

Alternative scenario

Below 3825.30, expect 3808.10 and 3797.80.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (3838.70) but below its 50 period moving average (3852.70).

Supports and resistances

3889.90 **

3879.70 *

3869.40 **

3859.20

3838.75 last

3832.00

3825.30 **

3808.10 *

3797.80 **

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