USD/KRW may rise 558 - 828 pips

1368.10 is our pivot point.

Our preference

Rebound towards 1380.00.

Alternative scenario

Below 1368.10, expect 1363.40 and 1360.70.

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 (1371.50) but under its 50 period moving average (1373.90).

Supports and resistances

1385.50 **

1382.70 *

1380.00 **

1377.30

1371.72 last

1369.90

1368.10 **

1363.40 *

1360.70 **

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