USD/COP may fall 2629 - 3939 pips

Our pivot point stands at 4179.10.

Our preference

The downside prevails as long as 4179.10 is resistance.

Alternative scenario

Above 4179.10, look for 4201.20 and 4214.30.

Comment

The RSI is below 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 4163.60 and 4162.30).

Supports and resistances

4214.30 **

4201.20 *

4179.10 **

4170.50

4161.79 last

4135.50

4122.40 **

4109.30 *

4096.20 **

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