USD/COP may fall 2056 - 3076 pips

3940.50 is our pivot point.

Our preference

The downside prevails as long as 3940.50 is resistance.

Alternative scenario

The upside breakout of 3940.50, would call for 3957.80 and 3968.

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 3927.60 and 3928.60).

Supports and resistances

3968.00 **

3957.80 *

3940.50 **

3933.70

3926.96 last

3906.40

3896.20 **

3885.90 *

3875.60 **

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