USD/COP may rise to 4419.80 - 4510.40

Our pivot point is at 4117.00.

Our preference

The upside prevails as long as 4117 is support.

Alternative scenario

The downside breakout of 4117 would call for 3964.90 and 3874.30.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4098.80 and 4066.20).

Supports and resistances

4691.60 **

4601.00 *

4510.40 **

4419.80

4238.35 last

4176.70

4117.00 **

3964.90 *

3874.30 **

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