USD/KRW may rise 620 - 920 pips

Our pivot point stands at 1331.50.

Our preference

As long as 1331.50 is support look for 1344.80.

Alternative scenario

Below 1331.50, expect 1326.40 and 1323.30.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1335.20 and 1335.20).

Supports and resistances

1351.00 **

1347.90 *

1344.80 **

1341.80

1335.60 last

1333.60

1331.50 **

1326.40 *

1323.30 **

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