USD/COP may rise 2619 - 3919 pips

Our pivot point is at 4128.90.

Our preference

As long as 4128.90 is support look for 4185.40.

Alternative scenario

The downside breakout of 4128.90 would call for 4107 and 4093.90.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 4143.40 and 4131.40).

Supports and resistances

4211.60 **

4198.50 *

4185.40 **

4172.40

4146.21 last

4137.60

4128.90 **

4107.00 *

4093.90 **

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