Published: 2025-03-06T02:48:14.000Z
Chart USD/KRW Update: Weighing on 1440.00 support, break in focus
Technical Analyst
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Extending pullback from the 1464.00 high of last week to reach support at 1440.00 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1477.00 | ** | 2 Jan YTD high | S1 | 1440.00 | * | congestion | |
| R3 | 1472.00 | ** | 3 Feb high | S2 | 1427.00 | * | Jan low | |
| R2 | 1464.00 | ** | 28 Feb high | S3 | 1425.00 | ** | 24 Feb YTD low | |
| R1 | 1455.00 | * | 18 Dec high | S4 | 1417.00 | * | 38.2% Sep/Dec rally |
Asterisk denotes strength of level
02:45 GMT - Extending pullback from the 1464.00 high of last week to reach support at 1440.00 congestion. Consolidation here see prices unwinding oversold intraday studies but the falling readings on daily chart keeps focus on the downside and see scope for break here to open up the 1427.00 and 1425.00 lows to retest. Break here will extend the broader losses from the January high to retrace gains from the September low. Meanwhile, resistance is lowered to the 1455.00 and this is expected to cap corrective bounce and sustain losses from the 1464.00 high.