USD/COP may rise 2440 - 3670 pips

3990.40 is our pivot point.

Our preference

Rebound towards 4043.20.

Alternative scenario

The downside breakout of 3990.40 would call for 3969.80 and 3957.60.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4007.70 and 4012.70).

Supports and resistances

4067.60 **

4055.40 *

4043.20 **

4030.90

4006.50 last

3998.40

3990.40 **

3969.80 *

3957.60 **

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