USD/KRW may rise to 1420.10 - 1439.00

Our pivot point is at 1351.80.

Our preference

The upside prevails as long as 1351.80 is support.

Alternative scenario

The downside breakout of 1351.80 would call for 1320.10 and 1301.30.

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 1367.20 and 1364.60).

Supports and resistances

1476.80 **

1457.90 *

1439.00 **

1420.10

1381.00 last

1364.20

1351.80 **

1320.10 *

1301.30 **

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