USD/KRW may fall 731 - 1031 pips

Our pivot point is at 1364.30.

Our preference

Target 1349.00.

Alternative scenario

Above 1364.30, look for 1369.40 and 1372.50.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (1360.80) but above its 50 period moving average (1358.80).

Supports and resistances

1372.50 **

1369.40 *

1364.30 **

1362.30

1359.31 last

1352.00

1349.00 **

1345.90 *

1342.90 **

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