USD/KRW may rise to 1420.80 - 1438.10

Our pivot point stands at 1357.40.

Our preference

As long as 1357.40 is support look for 1438.10.

Alternative scenario

Below 1357.40, expect 1328.50 and 1311.30.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (1382.40) but above its 50 period moving average (1372.20).

Supports and resistances

1472.70 **

1455.40 *

1438.10 **

1420.80

1382.27 last

1368.80

1357.40 **

1328.50 *

1311.30 **

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