USD/COP may rise 2450 - 3680 pips

Our pivot point stands at 4005.30.

Our preference

Rebound towards 4058.30.

Alternative scenario

Below 4005.30, expect 3984.70 and 3972.40.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4023.10 and 4035.60).

Supports and resistances

4082.80 **

4070.60 *

4058.30 **

4046.00

4021.50 last

4013.40

4005.30 **

3984.70 *

3972.40 **

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