USD/KRW may fall 499 - 709 pips

1368.90 is our pivot point.

Our preference

The downside prevails as long as 1368.90 is resistance.

Alternative scenario

The upside breakout of 1368.90, would call for 1372.40 and 1374.50.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1371.20 and 1369).

Supports and resistances

1374.50 **

1372.40 *

1368.90 **

1367.50

1365.39 last

1360.40

1358.30 **

1356.20 *

1354.10 **

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