USD/KRW may rise 431 - 641 pips

Our pivot point stands at 1362.30.

Our preference

Rebound towards 1373.00.

Alternative scenario

The downside breakout of 1362.30 would call for 1358.80 and 1356.70.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (1365.70) but under its 50 period moving average (1368.80).

Supports and resistances

1377.20 **

1375.10 *

1373.00 **

1370.90

1366.59 last

1363.70

1362.30 **

1358.80 *

1356.70 **

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