USD/KRW may fall 642 - 952 pips

Our pivot point is at 1366.30.

Our preference

Under pressure below 1366.30.

Alternative scenario

The upside breakout of 1366.30, would call for 1371.40 and 1374.50.

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 price stands below its 20 and 50 period moving average (respectively at 1363.90 and 1362.60).

Supports and resistances

1374.50 **

1371.40 *

1366.30 **

1364.30

1362.22 last

1355.80

1352.70 **

1349.70 *

1346.60 **

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