USD/COP may rise to 4010.20 - 4081.60

Our pivot point stands at 3773.20.

Our preference

Our next up target stands at 4081.60.

Alternative scenario

The downside breakout of 3773.20 would call for 3653.30 and 3581.90.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3865.20 and 3865.10).

Supports and resistances

4224.40 **

4153.00 *

4081.60 **

4010.20

3867.46 last

3820.30

3773.20 **

3653.30 *

3581.90 **

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