USD/KRW may fall 495 - 735 pips

Our pivot point is at 1378.80.

Our preference

The downside prevails as long as 1378.80 is resistance.

Alternative scenario

Above 1378.80, look for 1382.90 and 1385.40.

Comment

The RSI is below its neutrality area at 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 1376.30 and 1375.30).

Supports and resistances

1385.40 **

1382.90 *

1378.80 **

1377.10

1374.15 last

1369.20

1366.80 **

1364.30 *

1361.80 **

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