Published: 2024-12-06T02:25:07.000Z
Chart USD/KRW Update: Retest 1429.00 high; scope for break
Technical Analyst
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Consolidation at the 1411.00 support has given way to rebound to retest the 1429.00 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1450.00 | * | figure, congestion | S1 | 1411.00 | * | Nov high | |
| R3 | 1446.00 | ** | Oct 2022 year high | S2 | 1400.00 | ** | Apr high | |
| R2 | 1440.00 | * | congestion | S3 | 1388.00 | * | 18 Nov low | |
| R1 | 1429.00 | ** | 3 Dec YTD high | S4 | 1380.00 | * | congestion |
Asterisk denotes strength of level
02:15 GMT - Consolidation at the 1411.00 support has given way to rebound to retest the 1429.00 high. Clearance here will further extend the broader gains from the February 2023 year low and see room to the 1440.00 congestion. Beyond this will see room for retest of the 1446.00, October 2022 year high. Meanwhile, support at the 1411.00/1400.00, November and April highs, is expected to underpin and limit corrective pullback. Would take break here to fade the upside pressure and return focus to the downside to retrace rally from the September low.