USD/KRW may fall 820 - 1130 pips

Our pivot point stands at 1342.10.

Our preference

The downside prevails as long as 1342.10 is resistance.

Alternative scenario

Above 1342.10, look for 1347.20 and 1350.30.

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 1339.50 and 1339.40).

Supports and resistances

1350.30 **

1347.20 *

1342.10 **

1340.00

1338.00 last

1329.80

1326.70 **

1323.70 *

1320.60 **

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