Published: 2024-11-05T02:23:20.000Z
Chart USD/KRW Update: Extending consolidation above 1370.00 support
Technical Analyst
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Little change, as prices extend consolidation above the 1370.00 support
| 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
02:15 GMT - Little change, as prices extend consolidation above the 1370.00 support following rejection from the 1393.00, October high. However, pressure remains on the downside and see room for break here to further 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. Break here, if seen, will open up the 1395.00/1400.00 highs to retest.