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Short

USDCOP COLOMBIAN PESO ON THE ZONE

FX_IDC:USDCOP   U.S. DOLLAR / COLOMBIAN PESO
THE COLOMBIAN PESO HAS BEEN IN THE 2600S ZONE 3 TIMES IN THE LAST 12 YEARS, AND IT HAS NEVER CLOSED ABOVE 2700. WE NEED TO SEE A BOUNCE IN THE PRICE OF OIL             , OR AT LEAST SEE IT HANDLE THE 57-60 LEVEL AND EXPECT THE PESO GO TOWARDS ZONES OF 2200 FOR NOW. MAYBE THE POLICY MAKER OF THE COLOMBIA FINDS OUT WHAT IS OBVIUS AND LET THE PESO GET STRONGER AGAINST THE DOLAR. THE TECHNICALS SHOW THAT IT IS CLEARLY OVERBOUGHT, BUT THE PAIR DEPENDS A LOT OF THE CIRCUMSTANCES OF THE COUNTRY AND THE ACTUAL GOVERNMENT IS REALLY KICKING DOLLARS OF THE COUNTRY AND THAT MAKES HARD THAT THE PESO DEVALUATES A LITTLE.
EVEN THOUGH IS AN INTERESTING THING THAT THE PESO HAS NEVER BEEN ABOVE 2650 LEVEL ALMOS IN THIS MILLENIUM.

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