USD/KRW may rise 664 - 964 pips

Our pivot point stands at 1375.20.

Our preference

The upside prevails as long as 1375.20 is support.

Alternative scenario

The downside breakout of 1375.20 would call for 1370.30 and 1367.40.

Comment

The RSI is above its neutrality area at 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 1378.10 and 1376.20).

Supports and resistances

1396.90 **

1394.00 *

1391.10 **

1388.10

1381.46 last

1377.20

1375.20 **

1370.30 *

1367.40 **

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