USD/KRW may rise 600 - 900 pips

Our pivot point is at 1343.80.

Our preference

Rebound towards 1357.80.

Alternative scenario

Below 1343.80, expect 1338.80 and 1335.80.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (1348.40) but under its 50 period moving average (1349.80).

Supports and resistances

1363.80 **

1360.80 *

1357.80 **

1354.80

1348.80 last

1345.80

1343.80 **

1338.80 *

1335.80 **

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