USD/KRW may rise to 1418.70 - 1434.20

Our pivot point is at 1361.00.

Our preference

As long as 1361 is support look for 1434.20.

Alternative scenario

The downside breakout of 1361 would call for 1335.10 and 1319.70.

Comment

The RSI is above its neutrality area at 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 1383.80 and 1373.80).

Supports and resistances

1465.20 **

1449.70 *

1434.20 **

1418.70

1385.98 last

1371.20

1361.00 **

1335.10 *

1319.70 **

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