USD/KRW may fall 753 - 1023 pips

1374.10 is our pivot point.

Our preference

The downside prevails as long as 1374.10 is resistance.

Alternative scenario

Above 1374.10, look for 1378.70 and 1381.40.

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 1372.80 and 1374.60).

Supports and resistances

1381.40 **

1378.70 *

1374.10 **

1372.30

1370.13 last

1362.60

1359.90 **

1357.20 *

1354.40 **

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