Published: 2025-07-09T02:28:33.000Z
Chart USD/KRW Update: Range-bound below 1380.00, room for higher later
Technical Analyst
1
Settled back from test of the 1380.00 resistance as prices consolidate bounce from the 1348.00 low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1400.00 | * | Apr 2024 high | S1 | 1365.00 | * | 5 May low | |
| R3 | 1395.00 | * | Jun 2024 high | S2 | 1360.00 | * | 26 May low | |
| R2 | 1390.00 | ** | Jun high | S3 | 1348.00 | ** | 30 Jun YTD low | |
| R1 | 1380.00 | * | congestion | S4 | 1340.00 | * | congestion |
Asterisk denotes strength of level
02:25 GMT - Settled back from test of the 1380.00 resistance as prices consolidate bounce from the 1348.00 low of last week. Positive daily studies suggest this giving way to further gains later, clearance will open up room for extension to retest the June high at 1390.00 which is expected to cap. Clearance, if seen, will see scope to the strong resistance at 1395.00/1400.00 area. However, corrective gains are expected to give way to renewed selling pressure later. Break of support at the 1365.00/1360.00 area will expose the 1350.00/1348.00 area to retest and see room to extend the April losses.