USD/KRW may rise to 1421.40 - 1438.50

Our pivot point is at 1359.00.

Our preference

As long as 1359 is support look for 1438.50.

Alternative scenario

Below 1359, expect 1330.30 and 1313.30.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1383.10 and 1373.80).

Supports and resistances

1472.70 **

1455.60 *

1438.50 **

1421.40

1384.38 last

1370.20

1359.00 **

1330.30 *

1313.30 **

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