USD/KRW may rise 550 - 820 pips

1377.40 is our pivot point.

Our preference

The upside prevails as long as 1377.40 is support.

Alternative scenario

Below 1377.40, expect 1372.80 and 1370.10.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1380.60 and 1380.50).

Supports and resistances

1394.60 **

1391.90 *

1389.20 **

1386.50

1381.00 last

1379.20

1377.40 **

1372.80 *

1370.10 **

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