USD/KRW may rise 447 - 657 pips

Our pivot point stands at 1380.40.

Our preference

As long as 1380.40 is support look for 1390.70.

Alternative scenario

Below 1380.40, expect 1376.80 and 1374.70.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (1384.40) but above its 50 period moving average (1382.90).

Supports and resistances

1394.90 **

1392.80 *

1390.70 **

1388.60

1384.13 last

1381.80

1380.40 **

1376.80 *

1374.70 **

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