USD/COP may fall 2050 - 3080 pips

Our pivot point stands at 3867.70.

Our preference

The downside prevails as long as 3867.70 is resistance.

Alternative scenario

Above 3867.70, look for 3884.90 and 3895.20.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3857.10 and 3857.90).

Supports and resistances

3895.20 **

3884.90 *

3867.70 **

3860.90

3854.10 last

3833.60

3823.30 **

3813.00 *

3802.80 **

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