USD/KRW may rise 713 - 983 pips

Our pivot point stands at 1384.80.

Our preference

Rebound towards 1398.30.

Alternative scenario

The downside breakout of 1384.80 would call for 1380.20 and 1377.50.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1388.80 and 1389.20).

Supports and resistances

1403.80 **

1401.00 *

1398.30 **

1395.60

1388.47 last

1386.60

1384.80 **

1380.20 *

1377.50 **

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