Published: 2024-12-19T03:24:20.000Z
Chart USD/KRW Update: Consolidating break to fresh year high
Technical Analyst
-
Break above the 1438.00 high has seen rally to reach fresh high at 1455.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1500.00 | ** | 12 Mar 2009 high | S1 | 1446.00 | * | Oct 2022 year high | |
| R3 | 1488.00 | * | 16 Mar 2009 high | S2 | 1438.00 | * | 9 Dec high | |
| R2 | 1465.00 | * | 11 Mar 2009 low | S3 | 1428.00 | * | 11 Dec low | |
| R1 | 1455.00 | ** | 18 Dec YTD high | S4 | 1411.00 | ** | Nov high |
Asterisk denotes strength of level
03:15 GMT - Break above the 1438.00 high has seen rally through resistance at the 1446.00, October 2022 year high, to reach fresh high at 1455.00. Pause here see prices consolidating bullish run-up from the 1400.00 and unwinding the overbought intraday studies. Further gains not ruled out and higher will see scope for extension to the 1465.00 and 1488.00 resistance from March 2009. Meanwhile, support is raised to the 1446.00/1438.00 area which should underpin and sustain the bullish trend. Below this will ease the upside pressure and see room for deeper pullback 1428.00/1420.00 area.