Published: 2025-05-05T02:41:57.000Z
Chart USD/KRW Update: Consolidating sharp losses last week
Technical Analyst
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Turned up from the 1390.00 low as prices consolidate test of strong support at 1400.00/1395.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1425.00 | * | Feb low | S1 | 1390.00 | ** | 2 May YTD low | |
| R3 | 1420.00 | * | congestion | S2 | 1388.00 | * | 18 Nov low | |
| R2 | 1412.00 | ** | 16 Apr low | S3 | 1380.00 | * | congestion | |
| R1 | 1400.00 | * | congestion | S4 | 1374.00 | * | 61.8% Sep/Dec rally |
Asterisk denotes strength of level
02:35 GMT - Turned up from the 1390.00 low as prices consolidate test of strong support at the 1400.00/1395.00, April/June 2024 highs. Bounce here see prices unwinding the oversold intraday studies following sharp losses from the 1446.00 high last week. Bounce see resistance starting at 1400.00 congestion and lift over this will see room for stronger bounce to the strong resistance at the 1412.00 low of 16 April. Bounce is expected to give way to renewed selling pressure later. Break of the 1390.00 low will see room to support at 1388.00/1380.00 and 1374.00, 61.8% Fibonacci level.