USD/KRW may fall 660 - 910 pips

Our pivot point stands at 1378.60.

Our preference

The downside prevails as long as 1378.60 is resistance.

Alternative scenario

The upside breakout of 1378.60, would call for 1382.70 and 1385.20.

Comment

The RSI is below 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 1375.50 and 1376.20).

Supports and resistances

1385.20 **

1382.70 *

1378.60 **

1377.00

1374.90 last

1368.30

1365.80 **

1363.40 *

1360.90 **

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