USD/KRW may fall 725 - 1025 pips

Our pivot point stands at 1354.40.

Our preference

The downside prevails as long as 1354.40 is resistance.

Alternative scenario

Above 1354.40, look for 1359.40 and 1362.40.

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 1350.70 and 1350.30).

Supports and resistances

1362.40 **

1359.40 *

1354.40 **

1352.40

1349.15 last

1341.90

1338.90 **

1335.90 *

1333.00 **

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