Published: 2025-07-16T02:46:10.000Z
Chart USD/KRW Update: Extending corrective gains to 1390.00
Technical Analyst
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Extending gains from the June low as prices retrace losses from the April high and see room for retest 1390.00 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1412.00 | * | 16 Apr low | S1 | 1380.00 | * | 7 Jul high | |
| R3 | 1400.00 | * | Apr 2024 high, 38.2% | S2 | 1370.00 | * | 3 Jul high | |
| R2 | 1395.00 | * | Jun 2024 high | S3 | 1365.00 | * | 5 May low | |
| R1 | 1390.00 | ** | Jun high | S4 | 1360.00 | * | 26 May low |
Asterisk denotes strength of level
02:40 GMT - Extending gains from the June low as prices retrace losses from the April high and see room for retest 1390.00 high. Would expect reaction here but a later break cannot be ruled out. Clearance will shift focus to strong resistance at the 1395.00/1400.00, June/April 2024 highs and 38.2% Fibonacci level. Gains are seen corrective and expected to give way to fresh selling pressure later. Meanwhile, support is raised to 1380.00 which should underpin. Below here will open up room to the 1370.00 level and the 1365.00/1360.00 area.