USD/COP may rise to 4362.60 - 4444.30

Our pivot point stands at 4091.00.

Our preference

As long as 4091 is support look for 4444.30.

Alternative scenario

The downside breakout of 4091 would call for 3953.60 and 3871.90.

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 trading above both its 20 and 50 period moving average (respectively at 4187.70 and 4144.10).

Supports and resistances

4607.90 **

4526.10 *

4444.30 **

4362.60

4199.00 last

4145.00

4091.00 **

3953.60 *

3871.90 **

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