USD/KRW may rise 756 - 1076 pips

Our pivot point stands at 1330.50.

Our preference

The upside prevails as long as 1330.50 is support.

Alternative scenario

The downside breakout of 1330.50 would call for 1325 and 1321.80.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1333.70 and 1331.50).

Supports and resistances

1352.30 **

1349.10 *

1345.80 **

1342.60

1335.04 last

1332.60

1330.50 **

1325.00 *

1321.80 **

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