USD/KRW may rise 648 - 948 pips

Our pivot point is at 1353.50.

Our preference

The upside prevails as long as 1353.50 is support.

Alternative scenario

Below 1353.50, expect 1348.40 and 1345.40.

Comment

The RSI is above 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 1357.10 and 1357.30).

Supports and resistances

1374.90 **

1371.80 *

1368.80 **

1365.80

1359.32 last

1355.50

1353.50 **

1348.40 *

1345.40 **

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