USD/KRW may rise 555 - 825 pips

Our pivot point stands at 1361.70.

Our preference

As long as 1361.70 is support look for 1375.

Alternative scenario

Below 1361.70, expect 1357.10 and 1354.40.

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 1366.50 and 1366.10).

Supports and resistances

1380.50 **

1377.70 *

1375.00 **

1372.30

1366.75 last

1363.50

1361.70 **

1357.10 *

1354.40 **

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