Published: 2024-02-26T02:48:06.000Z
Chart USD/KRW Update: Extending choppy trade around 1330.00
Technical Analyst
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Steady in range as prices turned up from the 1324.00 low to extend consolidation around the 1330.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1363.00 | ** | 4 Oct 2023 year high | S1 | 1324.00 | 22 Feb low | ||
| R3 | 1350.00 | ** | 17 Jan YTD high | S2 | 1320.00 | * | congestion | |
| R2 | 1343.00 | * | 13 Feb high | S3 | 1310.00 | * | congestion | |
| R1 | 1339.00 | 20 Feb low | S4 | 1307.00 | 12 Jan low |
Asterisk denotes strength of level
02:40 GMT - Steady in range as prices turned up from the 1324.00 low to extend consolidation around the 1330.00 level. Mixed daily studies suggest further choppy trade here though deeper pullback to retest the 1320.00 congestion not ruled out. Break of the latter needed to weaken and see deeper pullback to retrace gains from the November/December lows to the 1310.00/1307.00 area. Meanwhile, resistance is lowered to the 1339.00 then the 1343.00 lower high which is now expected to cap. Only clearance here will open up the 1350.00 January year high to retest.