USD/KRW may fall 730 - 1040 pips

Our pivot point is at 1336.70.

Our preference

The downside prevails as long as 1336.70 is resistance.

Alternative scenario

Above 1336.70, look for 1341.90 and 1345.

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 1332.20 and 1332.90).

Supports and resistances

1345.00 **

1341.90 *

1336.70 **

1334.70

1332.10 last

1324.80

1321.70 **

1318.60 *

1315.60 **

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