USD/KRW may rise 524 - 764 pips

Our pivot point stands at 1332.00.

Our preference

Rebound towards 1344.00.

Alternative scenario

The downside breakout of 1332 would call for 1328 and 1325.70.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1338.50 and 1347.40).

Supports and resistances

1348.70 **

1346.40 *

1344.00 **

1341.60

1336.36 last

1333.60

1332.00 **

1328.00 *

1325.70 **

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