USD/KRW may rise 614 - 924 pips

1334.20 is our pivot point.

Our preference

The upside prevails as long as 1334.20 is support.

Alternative scenario

The downside breakout of 1334.20 would call for 1329 and 1325.90.

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 1333.60 and 1331.90).

Supports and resistances

1354.70 **

1351.60 *

1348.50 **

1345.40

1339.26 last

1336.20

1334.20 **

1329.00 *

1325.90 **

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