USD/KRW may fall 581 - 861 pips

1320.50 is our pivot point.

Our preference

The downside prevails as long as 1320.50 is resistance.

Alternative scenario

Above 1320.50, look for 1325.30 and 1328.10.

Comment

The RSI is below 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 1318.70 and 1320).

Supports and resistances

1328.10 **

1325.30 *

1320.50 **

1318.60

1316.11 last

1310.30

1307.50 **

1304.60 *

1301.80 **

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