USD/KRW may fall 619 - 889 pips

Our pivot point stands at 1385.20.

Our preference

Under pressure below 1385.20.

Alternative scenario

The upside breakout of 1385.20, would call for 1389.80 and 1392.50.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1380.40 and 1380.30).

Supports and resistances

1392.50 **

1389.80 *

1385.20 **

1383.40

1379.59 last

1373.40

1370.70 **

1367.90 *

1365.20 **

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