USD/KRW may fall 714 - 1014 pips

Our pivot point stands at 1367.20.

Our preference

The downside prevails as long as 1367.20 is resistance.

Alternative scenario

Above 1367.20, look for 1372.30 and 1375.30.

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 1363.10 and 1362.80).

Supports and resistances

1375.30 **

1372.30 *

1367.20 **

1365.20

1362.74 last

1355.60

1352.60 **

1349.60 *

1346.50 **

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