USD/KRW may rise 508 - 758 pips

Our pivot point stands at 1367.10.

Our preference

The upside prevails as long as 1367.10 is support.

Alternative scenario

Below 1367.10, expect 1363.10 and 1360.60.

Comment

The RSI is above 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 1370.20 and 1369.90).

Supports and resistances

1383.70 **

1381.30 *

1378.90 **

1376.40

1371.32 last

1368.70

1367.10 **

1363.10 *

1360.60 **

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