USD/KRW may rise 818 - 1108 pips

Our pivot point is at 1339.80.

Our preference

Rebound.

Alternative scenario

The downside breakout of 1339.80 would call for 1334.80 and 1331.80.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (1341.70) but below its 50 period moving average (1345.20).

Supports and resistances

1360.90 **

1357.90 *

1354.90 **

1352.00

1343.82 last

1341.80

1339.80 **

1334.80 *

1331.80 **

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