Published: 2025-08-08T02:29:43.000Z
Chart USD/KRW Update: Consolidating at 1380.00 support, room for lower later
Technical Analyst
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Consolidating test of support at the 1380.00 congestion as prices unwind the oversold intraday studies
| 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
02:25 GMT - Consolidating test of support at the 1380.00 congestion as prices unwind the oversold intraday studies. However, the resulting flag pattern and pin bar from the 1406.00 high keeps pressure firmly on the downside and suggest consolidation giving way to fresh selling pressure later. Break will see room for deeper pullback to strong support at the 1365.00/1360.00 area. 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.