USD/KRW may rise 700 - 1020 pips

Our pivot point stands at 1335.60.

Our preference

The upside prevails as long as 1335.60 is support.

Alternative scenario

Below 1335.60, expect 1330.10 and 1326.90.

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 above its 20 and 50 period moving average (respectively at 1339.90 and 1339.50).

Supports and resistances

1357.60 **

1354.30 *

1351.10 **

1347.90

1340.90 last

1337.70

1335.60 **

1330.10 *

1326.90 **

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