USD/KRW may rise 495 - 745 pips

Our pivot point stands at 1377.60.

Our preference

The upside prevails as long as 1377.60 is support.

Alternative scenario

The downside breakout of 1377.60 would call for 1373.40 and 1370.90.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1379.90 and 1379.50).

Supports and resistances

1395.80 **

1393.30 *

1390.80 **

1388.30

1383.35 last

1379.20

1377.60 **

1373.40 *

1370.90 **

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