Published: 2024-12-12T02:29:45.000Z
Chart USD/KRW Update: Consolidating below 1438.00 high
Technical Analyst
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Little change, as prices settled back from the 1438.00 high to consolidate strong run-up from the 1388.00 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1465.00 | * | 11 Mar 2009 low | S1 | 1420.00 | figure | ||
| R3 | 1450.00 | * | figure, congestion | S2 | 1411.00 | * | Nov high | |
| R2 | 1446.00 | ** | Oct 2022 year high | S3 | 1400.00 | ** | Apr high | |
| R1 | 1438.00 | ** | 9 Dec YTD high | S4 | 1388.00 | * | 18 Nov low |
Asterisk denotes strength of level
02:25 GMT - Little change, as prices settled back from the 1438.00 high to consolidate strong run-up from the 1388.00 support. Positive daily studies suggest scope to further extend the underlying bull trend and break here will see room to the 1440.00 level. Beyond this will see scope to retest 1446.00, the October 2022 multi-year high where reaction is expected. Meanwhile, support is at the 1424.00/1420.00 area underpin. Would take break here to fade the upside pressure and see room for deeper pullback to retrace rally from the September low to the 1411.00/1400.00 area.