USD/KRW may rise 702 - 1032 pips

Our pivot point is at 1325.90.

Our preference

As long as 1325.90 is support look for 1341.30.

Alternative scenario

The downside breakout of 1325.90 would call for 1320.50 and 1317.20.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (1331) but above its 50 period moving average (1328.50).

Supports and resistances

1347.80 **

1344.50 *

1341.30 **

1338.00

1330.98 last

1328.10

1325.90 **

1320.50 *

1317.20 **

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