Published: 2024-11-04T03:03:10.000Z
Chart USD/KRW Update: Under pressure, room for deeper pullback from October high
Technical Analyst
1
Under pressure from the opening but no follow-through on probes below the 1372.00, low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1395.00 | ** | Jun high | S1 | 1370.00 | ** | 12 Jul low | |
| R3 | 1393.00 | * | Oct high | S2 | 1367.00 | * | 21 Oct low | |
| R2 | 1390.00 | * | congestion | S3 | 1359.00 | * | 38.2% Sep/Oct rally | |
| R1 | 1380.00 | * | congestion | S4 | 1355.00 | * | 10 Oct high, congestion |
Asterisk denotes strength of level
03:00 GMT - Under pressure from the opening but no follow-through on probes below the 1372.00, low of last week. However, pressure remains on the downside and see room for break here and the 1370.00 support to extend losses from the 1393.00 high to retrace strong gains from the September low. Lower will see room to the 1367.00 support then 1359.00, 38.2% Fibonacci retracement. Meanwhile, resistance is lowered to the 1380.00 congestion and this is expected to cap and sustain losses from the 1393.00, October high.