Published: 2025-02-21T02:53:38.000Z
Chart USD/KRW Update: Extending losses, focus on 1427.00 low
Technical Analyst
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Consolidation at the 1440.00 congestion has given way to break to reach 1430.00 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1460.00 | ** | congestion, 31 Dec high | S1 | 1427.00 | ** | 24 Jan YTD low | |
| R3 | 1455.00 | * | 18 Dec high | S2 | 1417.00 | * | 38.2% Sep/Dec rally | |
| R2 | 1450.00 | * | congestion | S3 | 1411.00 | * | Nov high | |
| R1 | 1440.00 | * | congestion | S4 | 1400.00 | * | Apr high |
Asterisk denotes strength of level
02:50 GMT - Consolidation at the 1440.00 congestion has given way to break to reach 1430.00 level. Pause here see intraday studies unwinding oversold readings but this is expected to give way to fresh selling pressure later to open the 1427.00 January YTD low to retest. Below this will extend the broader losses from the December high to retrace rally from the September low. Meanwhile, resistance is lowered to the 1440.00/1445.00 congestion area, which is expected to cap and contain corrective bounce.