USD/KRW may fall to 1316.80 - 1333.50

1393.70 is our pivot point.

Our preference

The downside prevails as long as 1393.70 is resistance.

Alternative scenario

The upside breakout of 1393.70, would call for 1421.90 and 1438.70.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1375.80 and 1378.40).

Supports and resistances

1438.70 **

1421.90 *

1393.70 **

1382.60

1371.31 last

1333.50

1316.80 **

1300.00 *

1283.20 **

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