USD/COP may rise 2054 - 3084 pips

Our pivot point stands at 3843.90.

Our preference

Rebound towards 3888.30.

Alternative scenario

Below 3843.90, expect 3826.60 and 3816.40.

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 above its 20 period moving average (3857.30) but under its 50 period moving average (3863.50).

Supports and resistances

3908.80 **

3898.60 *

3888.30 **

3878.00

3857.46 last

3850.70

3843.90 **

3826.60 *

3816.40 **

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