USD/COP may rise to 4004.20 - 4074.20

Our pivot point stands at 3771.90.

Our preference

Our next up target stands at 4074.20.

Alternative scenario

The downside breakout of 3771.90 would call for 3654.40 and 3584.40.

Comment

The RSI is above 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 3854.80 and 3862.30).

Supports and resistances

4214.20 **

4144.20 *

4074.20 **

4004.20

3864.28 last

3818.10

3771.90 **

3654.40 *

3584.40 **

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