Published: 2025-01-21T03:05:23.000Z
Chart USD/KRW Update: Under pressure
Technical Analyst
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Under pressure as prices extend break of the 1450.00/1445.00 area and see room to the 1430.00/1428.00 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1460.00 | * | congestion | S1 | 1428.00 | * | 11 Dec low | |
| R3 | 1455.00 | * | 18 Dec high, congestion | S2 | 1417.00 | * | 38.2% Sep/Dec rally | |
| R2 | 1450.00 | * | congestion | S3 | 1411.00 | * | Nov high | |
| R1 | 1445.00 | ** | 7 Jan low | S4 | 1400.00 | ** | Apr high |
Asterisk denotes strength of level
03:00 GMT - Under pressure as prices extend break of the 1450.00/1445.00 area and see room to the 1430.00/1428.00 support. Both the daily and weekly studies have turned lower from overbought areas and break here will see room for deeper pullback to retrace the strong run-up from the September low. Lower will see room to 1417.00, 38.2% Fibonacci level. Meanwhile, resistance is lowered to recent lows at the 1445.00/1450.00 congestion area and this is expected to cap and sustain losses from the 1487.00, December 2024 year high.