Published: 2025-05-16T02:22:38.000Z
Chart USD/KRW Update: Weighing on 1400.00/1395.00 support, break in focus
Technical Analyst
-
Pressure remains on the downside following rejection from strong resistance at 1425.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1440.00 | * | congestion, 61.8% | S1 | 1400.00 | * | Apr 2024 high | |
| R3 | 1430.00 | * | congestion | S2 | 1395.00 | ** | Jun 2024 high | |
| R2 | 1425.00 | ** | Feb low, 50% | S3 | 1380.00 | * | congestion | |
| R1 | 1412.00 | * | Apr low | S4 | 1365.00 | ** | 5 May YTD low |
Asterisk denotes strength of level
02:20 GMT - Pressure remains on the downside following rejection from strong resistance at 1425.00, February low and 50% Fibonacci level. Pullback here see prices retracing bounce from the 1365.00 low to reach strong support at 1400.00/1395.00, April and June 2024 highs. Break here will return focus to the downside and see room to 1380.00 congestion then the 1365.00, 5th May YTD low. Meanwhile, resistance is lowered to the April low at 1412.00 which is expected to cap and sustain rejection from the 1425.00 resistance.