USD/COP may rise 2723 - 4083 pips

Our pivot point stands at 4156.00.

Our preference

As long as 4156 is support look for 4214.80.

Alternative scenario

Below 4156, expect 4133.10 and 4119.50.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 4172.80 and 4156.60).

Supports and resistances

4242.00 **

4228.40 *

4214.80 **

4201.20

4173.97 last

4165.00

4156.00 **

4133.10 *

4119.50 **

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