USD/KRW may rise 509 - 769 pips

Our pivot point stands at 1374.20.

Our preference

Rebound.

Alternative scenario

Below 1374.20, expect 1369.90 and 1367.30.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (1377.50) but below its 50 period moving average (1380.70).

Supports and resistances

1391.50 **

1389.00 *

1386.40 **

1383.80

1378.71 last

1375.90

1374.20 **

1369.90 *

1367.30 **

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