USD/KRW may rise 507 - 747 pips

Our pivot point stands at 1353.60.

Our preference

The upside prevails as long as 1353.60 is support.

Alternative scenario

Below 1353.60, expect 1349.50 and 1347.10.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1357.20 and 1356.30).

Supports and resistances

1369.70 **

1367.30 *

1364.90 **

1362.50

1357.43 last

1355.20

1353.60 **

1349.50 *

1347.10 **

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