USD/KRW may rise 655 - 905 pips

Our pivot point is at 1375.10.

Our preference

Rebound towards 1387.80.

Alternative scenario

The downside breakout of 1375.10 would call for 1370.90 and 1368.50.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1379.80 and 1382.10).

Supports and resistances

1392.80 **

1390.30 *

1387.80 **

1385.30

1378.75 last

1376.70

1375.10 **

1370.90 *

1368.50 **

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