USD/COP may rise 1689 - 2539 pips

Our pivot point is at 4117.00.

Our preference

Rebound towards 4153.60.

Alternative scenario

The downside breakout of 4117 would call for 4102.80 and 4094.40.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4130.20 and 4142.20).

Supports and resistances

4170.50 **

4162.00 *

4153.60 **

4145.10

4128.21 last

4122.60

4117.00 **

4102.80 *

4094.40 **

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