Published: 2025-02-28T02:47:33.000Z
Chart USD/KRW Update: Extending sharp rally
Technical Analyst
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Sharply higher following break of the 1440.00 level to retest strong resistance at the 1455.00/1460.00 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1478.00 | * | 31 Dec high | S1 | 1450.00 | intraday low | ||
| R3 | 1472.00 | ** | 3 Feb high | S2 | 1440.00 | * | congestion | |
| R2 | 1466.00 | 4 Feb high | S3 | 1427.00 | * | Jan low | ||
| R1 | 1460.00 | ** | congestion, 31 Dec high | S4 | 1425.00 | ** | 24 Feb YTD low |
Asterisk denotes strength of level
02:40 GMT - Sharply higher following break of the 1440.00 level with extension to retest strong resistance at the 1455.00/1460.00 area. Overbought intraday studies suggest consolidation here likely though a later break is expected. Higher will open up room to the 1466.00 and 1472.00 resistance. Meanwhile, support is raised to the 1450.00 intraday low then the 1440.00 congestion. The latter now underpin and break here is needed to return focus to the downside for retest of the 1427.00/1425.00 lows.