COP/US$: Bullish Technical Signal

While we have liked the Colombian peso for a long time from a fundamental perspective, a less encouraging technical picture has kept us wary towards the unit over the last six months. But things are beginning looking more positive on this front, as the peso smashed through multi-month resistance at the COP1,870/US$ level on the weekly chart, to close at COP1,848/US$ on April 1.

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