USD/KRW may rise 631 - 921 pips

1359.60 is our pivot point.

Our preference

The upside prevails as long as 1359.60 is support.

Alternative scenario

Below 1359.60, expect 1354.70 and 1351.80.

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 trading above both its 20 and 50 period moving average (respectively at 1363.10 and 1363.10).

Supports and resistances

1379.40 **

1376.50 *

1373.60 **

1370.70

1364.39 last

1361.50

1359.60 **

1354.70 *

1351.80 **

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