Published: 2025-05-29T02:54:28.000Z
Chart USD/KRW Update: Extending corrective bounce from 1360.00 low
Technical Analyst
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Extending bounce from 1360.00 fresh year low as prices unwind the deep oversold intraday and daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1412.00 | ** | April low | S1 | 1370.00 | * | congestion | |
| R3 | 1400.00 | ** | Apr 2024 high | S2 | 1365.00 | * | 5 May low | |
| R2 | 1395.00 | * | Jun 2024 high | S3 | 1360.00 | ** | 26 May YTD low | |
| R1 | 1390.00 | * | congestion | S4 | 1350.00 | * | congestion |
Asterisk denotes strength of level
02:50 GMT - Extending bounce from 1360.00 fresh year low as prices unwind the deep oversold intraday and daily studies. Break above 1380.00 level see room for stronger gains to retrace April/May losses and see room to the 1387.00/1390.00 area. Beyond this, will open up room to strong resistance at 1395.00/1400.00, June/April highs, which is expected to cap. Meanwhile, support is raised to the 1370.00 congestion. Would take break here to return focus to the downside for retest of the 5 May low at 1365.00 then the 1360.00, 26 May YTD low.