USD/COP may rise 2670 - 4000 pips

Our pivot point stands at 4184.90.

Our preference

Rebound towards 4242.50.

Alternative scenario

The downside breakout of 4184.90 would call for 4162.50 and 4149.10.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4202.60 and 4211.10).

Supports and resistances

4269.20 **

4255.90 *

4242.50 **

4229.20

4202.50 last

4193.70

4184.90 **

4162.50 *

4149.10 **

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