USD/KRW may rise 557 - 797 pips

Our pivot point stands at 1360.20.

Our preference

Rebound towards 1372.20.

Alternative scenario

The downside breakout of 1360.20 would call for 1356.10 and 1353.70.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1367.20 and 1372.10).

Supports and resistances

1377.10 **

1374.70 *

1372.20 **

1369.80

1364.23 last

1361.80

1360.20 **

1356.10 *

1353.70 **

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