USD/COP may rise 2250 - 3370 pips

Our pivot point stands at 4303.70.

Our preference

As long as 4303.70 is support look for 4352.20.

Alternative scenario

The downside breakout of 4303.70 would call for 4284.80 and 4273.50.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (4320.50) but above its 50 period moving average (4303.70).

Supports and resistances

4374.70 **

4363.50 *

4352.20 **

4341.00

4318.50 last

4311.10

4303.70 **

4284.80 *

4273.50 **

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