USD/KRW may fall 776 - 1026 pips

Our pivot point stands at 1381.80.

Our preference

The downside prevails as long as 1381.80 is resistance.

Alternative scenario

The upside breakout of 1381.80, would call for 1385.90 and 1388.30.

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 1381.20 and 1384).

Supports and resistances

1388.30 **

1385.90 *

1381.80 **

1380.10

1376.86 last

1369.10

1366.60 **

1364.20 *

1361.70 **

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