USD/KRW may fall 596 - 886 pips

Our pivot point stands at 1379.80.

Our preference

The downside prevails as long as 1379.80 is resistance.

Alternative scenario

Above 1379.80, look for 1384.70 and 1387.70.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1377.10 and 1378).

Supports and resistances

1387.70 **

1384.70 *

1379.80 **

1377.90

1375.96 last

1370.00

1367.10 **

1364.20 *

1361.20 **

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