Published: 2025-05-06T02:39:11.000Z
Chart USD/KRW Update: Turned up from 1365.00, fresh year low
Technical Analyst
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Opened higher from Monday's fresh year low at 1365.00 as prices unwind the oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1420.00 | * | congestion | S1 | 1365.00 | ** | 5 May YTD low | |
| R3 | 1412.00 | ** | 16 Apr low | S2 | 1360.00 | * | figure | |
| R2 | 1400.00 | ** | Apr 2024 high | S3 | 1350.00 | * | congestion | |
| R1 | 1395.00 | * | Jun 2024 high | S4 | 1347.00 | * | 76.4% Sep/Dec rally |
Asterisk denotes strength of level
02:30 GMT - Opened higher from Monday's fresh year low at 1365.00 as prices unwind the oversold intraday studies. Daily and weekly studies are streched as well and suggest scope for corrective bounce to retrace losses from the high of last week. Bounce see strong resistance at the 1395.00/1400.00, June/April 2024 highs. Break here will open up room for stronger gains to the previous lows at 1412.00/1425.00 zone. Meanwhile, break of the 1365.00 low will see room to the 1360.00 level then the 1350.00/1347.00 congestion and 76.4% Fibonacci level.