USD/KRW may rise 602 - 902 pips

1343.10 is our pivot point.

Our preference

The upside prevails as long as 1343.10 is support.

Alternative scenario

The downside breakout of 1343.10 would call for 1338.10 and 1335.10.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1346.40 and 1345.10).

Supports and resistances

1364.30 **

1361.40 *

1358.40 **

1355.40

1349.38 last

1345.00

1343.10 **

1338.10 *

1335.10 **

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