US Dollar vs Colombian Peso holds steady as sellers steer the short-term trend

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US Dollar vs Colombian Peso down 0.7%

Highlights

USD/COP remains under heavy selling pressure across all timeframes, reflecting persistent bearish momentum in the near term.
Momentum and oscillator indicators overwhelmingly confirm a bearish bias, with minimal upside probability and sellers firmly in control.
The pair is forecast to trade between COL$3,404 and COL$3,438 over the next 2–3 days, with a breakdown below COL$3,404 signaling further downside.

Bearish momentum established as key support levels and indicators align

USD/COP is trading below the MA-20 level at COL$3,445 and the MA-50 at COL$3,447 on the hourly chart, with the daily MA-200 well above at COL$3,681. Immediate resistance is marked by the Ichimoku Kijun at COL$3,444, while key support sits at COL$3,404. The Relative Strength Index (RSI) stands at 38.76, indicating a bearish bias, and the Commodity Channel Index (CCI) is in oversold territory. Both the Moving Average Convergence Divergence (MACD) and the Average Directional Index (ADX) confirm a selling bias. The Stochastic RSI is neutral, while Bull/Bear Power and the Awesome Oscillator both support downside momentum.

Downward risk prevails as breakout probability remains limited

Over the next 2–3 trading days, USD/COP is expected to move within a COL$3,404 to COL$3,438 range, based on typical volatility observed at current levels. The probability of an upward breakout is seen as very low, while a downward extension is highly likely. The baseline scenario anticipates oscillation inside this corridor, with a bullish reversal requiring a break above COL$3,444 resistance and a deeper decline if support at COL$3,404 fails.

Viktoras Karapetjanc, expert at Traders Union, notes that USD/COP remains stuck below key moving averages and faces persistent selling pressure, with technical signals largely confirming the bearish setup. He points out that downside momentum is evident, and an upward breakout appears unlikely unless resistance at COL$3,444 is surpassed. Range-bound trading is expected within COL$3,404 to COL$3,438, with heightened risk of a downward extension. "Given the technical signals and current sentiment, I see sellers in control for now, but a move above COL$3,444 would be needed to shift the outlook toward recovery."

Previously it was reported that USD/COP remained under sustained bearish pressure as technical signals favored sellers over buyers. The current analysis reinforces this outlook, with persistent downside momentum suggesting traders should closely monitor any breach of the COL$3,404 support as a catalyst for further weakness.

Source of Data: USD Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.