USD/COP may rise to 4399.60 - 4492.30

Our pivot point stands at 4090.70.

Our preference

As long as 4090.70 is support look for 4492.30.

Alternative scenario

Below 4090.70, expect 3935.10 and 3842.40.

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 4190.10 and 4134.20).

Supports and resistances

4677.60 **

4585.00 *

4492.30 **

4399.60

4213.93 last

4151.90

4090.70 **

3935.10 *

3842.40 **

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