USD/KRW is neutral

Our pivot point is at 1331.50.

Our preference

Look for a drop towards 1331.50 before a bounce.

Alternative scenario

The downside breakout of 1331.50 would call for 1297.80 and 1277.70.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the pair is trading under its 20 period moving average (1364.90) but above its 50 period moving average (1357.50).

Supports and resistances

1468.50 **

1448.30 *

1428.10 **

1407.90

1362.50 last

1344.80

1331.50 **

1297.80 *

1277.70 **

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