USD/KRW may fall 582 - 832 pips

Our pivot point is at 1387.20.

Our preference

The downside prevails as long as 1387.20 is resistance.

Alternative scenario

The upside breakout of 1387.20, would call for 1391.40 and 1393.80.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1385.10 and 1383.90).

Supports and resistances

1393.80 **

1391.40 *

1387.20 **

1385.60

1383.72 last

1377.90

1375.40 **

1373.00 *

1370.50 **

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