USD/KRW may rise 655 - 955 pips

Our pivot point is at 1319.50.

Our preference

Rebound towards 1334.20.

Alternative scenario

Below 1319.50, expect 1314.30 and 1311.30.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (1324.10) but below its 50 period moving average (1328.30).

Supports and resistances

1340.30 **

1337.30 *

1334.20 **

1331.20

1324.65 last

1321.50

1319.50 **

1314.30 *

1311.30 **

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