USD/KRW may fall 550 - 820 pips

Our pivot point is at 1379.50.

Our preference

Eye 1367.70.

Alternative scenario

The upside breakout of 1379.50, would call for 1384.10 and 1386.90.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is below its 20 period moving average (1377.20) but above its 50 period moving average (1375.40).

Supports and resistances

1386.90 **

1384.10 *

1379.50 **

1377.70

1375.90 last

1370.40

1367.70 **

1364.90 *

1362.20 **

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