Published: 2025-08-20T02:34:36.000Z
Chart USD/KRW Update: Extending gains
Technical Analyst
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Consolidation below the 1390.00 level has given way to break to extend bounce from the 1375.00 low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1420.00 | * | congestion | S1 | 1390.00 | * | congestion | |
| R3 | 1412.00 | ** | Apr low | S2 | 1380.00 | * | congestion | |
| R2 | 1406.00 | ** | 1 Aug high | S3 | 1375.00 | ** | 13 Aug low | |
| R1 | 1400.00 | * | Apr 2024 high | S4 | 1370.00 | * | congestion |
Asterisk denotes strength of level
02:30 GMT - Consolidation below the 1390.00 level has given way to break to extend bounce from the 1375.00 low of last week. Break of the 1395.00 resistance see the 1400.00, April 2024 high, now within reach. Clearance here, if seen, will expose the 1406.00 high to retest and see scope to further retrace the April/June losses. However, corrective gains are expected to give way to renewed selling pressure later. Meanwhile, support is raised to the 1390.00 level which should underpin and sustain gains from the 1380.00/1375.00 area.