USD/KRW may rise 646 - 936 pips

1344.70 is our pivot point.

Our preference

As long as 1344.70 is support look for 1359.30.

Alternative scenario

Below 1344.70, expect 1339.70 and 1336.70.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1349.20 and 1346.80).

Supports and resistances

1365.30 **

1362.30 *

1359.30 **

1356.40

1349.94 last

1346.70

1344.70 **

1339.70 *

1336.70 **

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