Published: 2025-05-20T02:44:11.000Z
Chart USD/KRW Update: Under pressure
Technical Analyst
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Break of the 1400.00/1395.00 support extending rejection from strong resistance at 1425.00, February low and 50% Fibonacci level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1440.00 | * | congestion, 61.8% | S1 | 1380.00 | * | congestion | |
| R3 | 1425.00 | ** | Feb low, 50% | S2 | 1373.00 | 6 May low | ||
| R2 | 1412.00 | * | Apr low | S3 | 1365.00 | ** | 5 May YTD low | |
| R1 | 1400.00 | * | congestion | S4 | 1360.00 | * | congestion |
Asterisk denotes strength of level
02:35 GMT - Break of the 1400.00/1395.00 support extending rejection from strong resistance at 1425.00, February low and 50% Fibonacci level. Negative daily studies keeps pressure on the downside and see room for extension to retest the 1380.00 congestion. Below this will open up the 1365.00, 5 May YTD low to retest. Below this will see room for deeper pullback to retrace the September/December rally. Meanwhile, resistance is lowered to the 1400.00 level which is expected to cap and sustain losses from the 1425.00 resistance.