USD/KRW may rise to 1415.70 - 1430.40

Our pivot point is at 1359.40.

Our preference

As long as 1359.40 is support look for 1430.40.

Alternative scenario

The downside breakout of 1359.40 would call for 1334.70 and 1320.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1384 and 1374.30).

Supports and resistances

1459.90 **

1445.20 *

1430.40 **

1415.70

1383.98 last

1369.00

1359.40 **

1334.70 *

1320.00 **

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