Chart USD/KRW Update: Still room to extend gains
Pressure remains on the upside and clear break of the 1340.00/1343.00 resistance see room to extend gains from the 1318.00 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1365.00 | 15 Aug high | S1 | 1330.00 | * | congestion | ||
| R3 | 1355.00 | ** | 5 Aug low | S2 | 1325.00 | * | 6 Sep low | |
| R2 | 1350.00 | * | Jan high, congestion | S3 | 1318.00 | ** | 26 Aug low | |
| R1 | 1343.00 | ** | May low | S4 | 1308.00 | ** | Mar low, 50% |
Asterisk denotes strength of level
02:40 GMT - Pressure remains on the upside and clear break of the 1340.00/1343.00 resistance see room to extend gains from the 1318.00 low to retrace losses from the 1395.00, June high. Higher will see room to the 1350.00 congestion then the strong resistance at the 1355.00, 5 August low. The latter expected to cap and lower high sought to further pressure the downside later. Meanwhile, support at the 1330.00/1325.00 area now protecting the downside and break here needed to expose the 1318.00 low to retest. Below the latter will see deeper pullback to 1308.00, March low and 50% Fibonacci level.