Published: 2024-11-27T02:40:23.000Z
Chart USD/KRW Update: Leaning lower from the 1408.00/1411.00 highs
Technical Analyst
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Slipped back below the 1400.00 level to leave a lower high at 1408.00 to threaten pullback to the 1390.00 congestion and 1388.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1420.00 | * | congestion | S1 | 1390.00 | * | congestion | |
| R3 | 1411.00 | ** | 14 Nov YTD high | S2 | 1388.00 | ** | 18 Nov low | |
| R2 | 1408.00 | * | 22 Nov high | S3 | 1380.00 | * | congestion | |
| R1 | 1400.00 | * | Apr high | S4 | 1370.00 | * | 38.2% Sep/Nov rally |
Asterisk denotes strength of level
02:35 GMT - Slipped back below the 1400.00 level to leave a lower high at 1408.00 to threaten pullback to the 1390.00 congestion and 1388.00 low of last week. Break of the latter will confirm a top in place at the 1411.00 high and see scope for deeper pullback to retrace the September/November rally. Lower will see room to the 1380.00 congestion then the 1370.00, 38.2% Fibonacci retracement. Upside see resistance now at the 1400.00 level and this now expected to cap and sustain losses from the 1408.00/1411.00 highs.