USD/KRW may fall 505 - 725 pips

Our pivot point stands at 1387.50.

Our preference

The downside prevails as long as 1387.50 is resistance.

Alternative scenario

The upside breakout of 1387.50, would call for 1391.20 and 1393.50.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1384.70 and 1385.20).

Supports and resistances

1393.50 **

1391.20 *

1387.50 **

1386.00

1384.55 last

1379.50

1377.30 **

1375.10 *

1372.80 **

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