Chart USD/KRW Update: Back in consolidation below 1510.00/1518.00 resistance
No follow-through on break of the 1510.00/1518.00 resistance as prices unwind overbought daily studies and keep the 1537.00 spike high out of reach
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1540.00 | * | congestion | S1 | 1500.00 | * | congestion | |
| R3 | 1537.00 | ** | 31 Mar YTD high | S2 | 1487.00 | * | 2024/2025 year highs | |
| R2 | 1518.00 | * | 23 Mar high | S3 | 1480.00 | ** | Nov high, congestion | |
| R1 | 1510.00 | * | congestion | S4 | 1472.00 | ** | Feb high |
Asterisk denotes strength of level
02:45 GMT - No follow-through on break of the 1510.00/1518.00 resistance as prices unwind overbought daily studies and keep the 1537.00 spike high out of reach. Cconsolidation see support at the 1500.00 congestion which now underpin. Break here will open up room for pullback to retest strong support at the 1487.00/1480.00 congestion area. Break here will open up room for deeper pullback to retrace gains from the 1420.00, January/February lows. Meanwhile, resistance at the 1510.00/1518.00 area is expected to cap. Clearance here needed to expose the pin bar high at 1537.00 to retest.