USD/KRW may rise 511 - 761 pips

Our pivot point is at 1380.60.

Our preference

As long as 1380.60 is support look for 1392.60.

Alternative scenario

The downside breakout of 1380.60 would call for 1376.40 and 1374.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1384.70 and 1383.70).

Supports and resistances

1397.50 **

1395.00 *

1392.60 **

1390.10

1384.99 last

1382.30

1380.60 **

1376.40 *

1374.00 **

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