USD/KRW may fall 772 - 1082 pips

Our pivot point stands at 1383.20.

Our preference

The downside prevails as long as 1383.20 is resistance.

Alternative scenario

Above 1383.20, look for 1388.50 and 1391.60.

Comment

The RSI is below its neutrality area at 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 1379.30 and 1378.80).

Supports and resistances

1391.60 **

1388.50 *

1383.20 **

1381.20

1378.32 last

1370.60

1367.50 **

1364.40 *

1361.30 **

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