USD/KRW may rise 591 - 871 pips

Our pivot point is at 1382.30.

Our preference

The upside prevails as long as 1382.30 is support.

Alternative scenario

Below 1382.30, expect 1377.70 and 1374.90.

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 above its 20 and 50 period moving average (respectively at 1383.60 and 1382.20).

Supports and resistances

1400.50 **

1397.80 *

1395.10 **

1392.30

1386.39 last

1384.10

1382.30 **

1377.70 *

1374.90 **

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