USD/KRW may fall 622 - 862 pips

Our pivot point stands at 1360.10.

Our preference

The downside prevails as long as 1360.10 is resistance.

Alternative scenario

Above 1360.10, look for 1364.10 and 1366.50.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1359.20 and 1360.60).

Supports and resistances

1366.50 **

1364.10 *

1360.10 **

1358.50

1356.42 last

1350.20

1347.80 **

1345.40 *

1343.00 **

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