USD/COP may rise 2680 - 4020 pips

Our pivot point stands at 4206.30.

Our preference

As long as 4206.30 is support look for 4264.20.

Alternative scenario

Below 4206.30, expect 4183.80 and 4170.40.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 4223.60 and 4222.30).

Supports and resistances

4291.00 **

4277.60 *

4264.20 **

4250.80

4224.00 last

4215.20

4206.30 **

4183.80 *

4170.40 **

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