USD/KRW may rise 523 - 763 pips

Our pivot point stands at 1379.70.

Our preference

Look for a drop towards 1379.70 before a bounce.

Alternative scenario

Below 1379.70, expect 1375.60 and 1373.10.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is above its 20 and 50 period moving average (respectively at 1383 and 1383).

Supports and resistances

1395.70 **

1393.20 *

1390.70 **

1388.30

1383.07 last

1381.40

1379.70 **

1375.60 *

1373.10 **

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