Colombian Peso Firms As Equities Stay Bid; Traders Eye DXY And BanRep Signals

USD/COP hovered near 3,705 in early trading, extending a multi-session slide that has pushed the pair beneath its 20- and 50-period averages on both the four-hour and daily charts.

Momentum remains against the dollar: MACD is below zero on both time frames and RSI sits near oversold on intraday reads, consistent with a one-way move.

The next supports cluster around 3,706 and 3,688; recovery attempts face layered resistance at 3,718, 3,742 and then 3,800. The backdrop is a softer global dollar and resilient local risk tone.

If the Dollar Index stabilizes or rebounds, short-covering could carry USD/COP toward the 3,72x–3,74x band; if DXY drifts lower, the down-trend likely persists, with any bounces capped by the falling average stack.

Oil’s tone remains relevant for the peso’s path, as do expectations for Banco de la República’s policy glide path into year-end.

Equities continue to lean higher. The MSCI Colcap was around 2,081, riding the top of a rising channel on the daily chart. MACD is firmly positive and RSI is overbought but not reversing, a profile that usually favors shallow, buy-the-dip pullbacks.

First supports sit at 2,073 and 2,037, with resistance at the channel top in the low-2,100s. A pause would not be surprising after the recent run, but the trend bias stays constructive while those supports hold.

What changed since yesterday and overnight was more of the same: steady peso buying into intraday rallies, failed retests of falling intraday averages, and a grind lower in USD/COP with only brief counter-trend upticks.

That sequence has yet to produce a decisive reversal signal. Top movers will determine whether the index grind can broaden beyond the recent leadership.

At press time, verified opening prints for the day’s five biggest winners and losers on the Colombian market were not yet available.

We will update once official data post; until then, traders report bids concentrating in domestic-demand and financial names, with selective profit-taking in recent high flyers.

Bottom line: peso strength and equity resilience remain the default while DXY is soft and USD/COP trades below 3,742. A firmer DXY or a hawkish surprise from BanRep would raise the odds of a counter-trend squeeze in FX and a breather for stocks.

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