Published: 2024-12-05T02:29:59.000Z
Chart USD/KRW Update: Consolidating rally to 1429.00 spike high
Technical Analyst
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Settled back in consolidation from the 1429.00 spike high as prices unwind the overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1446.00 | ** | Oct 2022 year high | S1 | 1411.00 | * | Nov high | |
| R3 | 1440.00 | * | congestion | S2 | 1400.00 | ** | Apr high | |
| R2 | 1429.00 | ** | 3 Dec YTD high | S3 | 1388.00 | * | 18 Nov low | |
| R1 | 1420.00 | * | congestion | S4 | 1380.00 | * | congestion |
Asterisk denotes strength of level
02:15 GMT - Settled back in consolidation from the 1429.00 spike high as prices unwind the overbought intraday studies. Daily studies have turned mixed with divergence highlighting risk for deeper pullback below support the 1411.00, November high. Below this will see room to the 1400.00 level which is expected to underpin. Failure here will turn focus lower to retrace rally from the September low. Resistance at the 1429.00 high now expected to cap. Clearance here see room to the 1440.00 congestion then the 1446.00, October 2022 year high.