Published: 2025-08-07T02:36:18.000Z
Chart USD/KRW Update: Consolidating, room for lower later
Technical Analyst
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Remains above the 1383.00 low as prices consolidate losses from the 1406.00 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1412.00 | ** | Apr low | S1 | 1380.00 | * | congestion | |
| R3 | 1406.00 | ** | 1 Aug high | S2 | 1365.00 | ** | 24 Jul low | |
| R2 | 1400.00 | * | Apr 2024 high | S3 | 1360.00 | * | 26 May low | |
| R1 | 1395.00 | * | Jun 2024 high | S4 | 1348.00 | ** | 30 Jun YTD low |
Asterisk denotes strength of level
02:30 GMT - Remains above the 1383.00 low as prices consolidate losses from the 1406.00 high. The resulting flag pattern and pin bar from the latter keeps pressure firmly on the downside and suggest consolidation giving way to fresh selling pressure later. Break here will see room to target the 1380.00 support. Below this will open up room to strong support at 1365.00/1360.00 to retest. Lower still, will return focus to the 1350.00/1348.00 lows. Meanwhile, resistance at the 1395.00/1400.00 area is expected to cap and sustain rejection from the 1406.00 high.