USD/KRW may rise 629 - 839 pips

1363.00 is our pivot point.

Our preference

The upside prevails as long as 1363 is support.

Alternative scenario

The downside breakout of 1363 would call for 1359.40 and 1357.30.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1361.50 and 1361.30).

Supports and resistances

1379.10 **

1377.00 *

1374.90 **

1372.80

1366.51 last

1364.40

1363.00 **

1359.40 *

1357.30 **

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