USD/KRW may rise 505 - 765 pips

1360.80 is our pivot point.

Our preference

As long as 1360.80 is support look for 1373.40.

Alternative scenario

The downside breakout of 1360.80 would call for 1356.60 and 1354.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1364 and 1361.70).

Supports and resistances

1378.40 **

1375.90 *

1373.40 **

1370.80

1365.75 last

1362.50

1360.80 **

1356.60 *

1354.00 **

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