USD/COP may rise 2590 - 3890 pips

Our pivot point stands at 4184.40.

Our preference

Rebound towards 4240.40.

Alternative scenario

Below 4184.40, expect 4162.60 and 4149.70.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (4200.10) but under its 50 period moving average (4218.30).

Supports and resistances

4266.30 **

4253.30 *

4240.40 **

4227.40

4201.50 last

4192.90

4184.40 **

4162.60 *

4149.70 **

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