USD/KRW may fall to 1259.10 - 1281.60

Our pivot point stands at 1364.70.

Our preference

The downside prevails as long as 1364.70 is resistance.

Alternative scenario

Above 1364.70, look for 1402.60 and 1425.20.

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 1359.80 and 1372.30).

Supports and resistances

1425.20 **

1402.60 *

1364.70 **

1349.80

1332.78 last

1281.60

1259.10 **

1236.70 *

1214.20 **

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