Published: 2024-12-18T02:45:25.000Z
Chart USD/KRW Update: Room to extend gains
Technical Analyst
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Little change, as prices extend pressure on the 1438.00 high with bullish structure suggesting scope for break
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1465.00 | * | 11 Mar 2009 low | S1 | 1429.00 | * | 3 Dec high | |
| R3 | 1450.00 | * | figure, congestion | S2 | 1420.00 | * | figure | |
| R2 | 1446.00 | ** | Oct 2022 year high | S3 | 1411.00 | * | Nov high | |
| R1 | 1438.00 | ** | 9 Dec YTD high | S4 | 1400.00 | ** | Apr high |
Asterisk denotes strength of level
02:40 GMT - Little change, as prices extend pressure on the 1438.00 high with bullish structure suggesting scope for break here to extend the bullish gains from the 1304.00 low of September. Higher will see room to the 1440.00 level. Beyond this will see scope for extension to retest 1446.00, the October 2022 multi-year high, where reaction can be expected. Meanwhile, support at the 1429.00/1420.00 area now underpin. Would take break here to fade the upside pressure and open up deeper pullback to retrace rally from the September low to the 1411.00/1400.00 area.