USD/COP may rise 2390 - 3580 pips

Our pivot point is at 4232.70.

Our preference

Rebound towards 4284.30.

Alternative scenario

Below 4232.70, expect 4212.70 and 4200.70.

Comment

The RSI is below 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 (4248.50) but under its 50 period moving average (4251.20).

Supports and resistances

4308.20 **

4296.30 *

4284.30 **

4272.40

4248.50 last

4240.60

4232.70 **

4212.70 *

4200.70 **

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