USD/KRW may fall 784 - 1104 pips

1339.20 is our pivot point.

Our preference

The downside prevails as long as 1339.20 is resistance.

Alternative scenario

The upside breakout of 1339.20, would call for 1344.70 and 1347.90.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1334.50 and 1335.10).

Supports and resistances

1347.90 **

1344.70 *

1339.20 **

1337.10

1333.74 last

1325.90

1322.70 **

1319.40 *

1316.10 **

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