USD/KRW may rise to 1424.80 - 1442.10

Our pivot point is at 1357.30.

Our preference

As long as 1357.30 is support look for 1442.10.

Alternative scenario

The downside breakout of 1357.30 would call for 1328.50 and 1311.30.

Comment

The RSI is above its neutrality area at 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 1380.20 and 1371.70).

Supports and resistances

1476.70 **

1459.40 *

1442.10 **

1424.80

1389.08 last

1368.70

1357.30 **

1328.50 *

1311.30 **

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