USD/COP may rise 2624 - 3934 pips

Our pivot point stands at 4140.30.

Our preference

As long as 4140.30 is support look for 4196.90.

Alternative scenario

Below 4140.30, expect 4118.20 and 4105.10.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (4158.90) but above its 50 period moving average (4153.60).

Supports and resistances

4223.10 **

4210.00 *

4196.90 **

4183.80

4157.56 last

4148.90

4140.30 **

4118.20 *

4105.10 **

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