Published: 2025-05-22T02:45:56.000Z
Chart USD/KRW Update: Consolidating above 1365.00 low, room for lower later
Technical Analyst
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Sharply lower to extend losses from the 1425.00 resistance to approach the 1365.00, 5 May YTD low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1425.00 | ** | Feb low, 50% | S1 | 1365.00 | ** | 5 May YTD low | |
| R3 | 1412.00 | * | Apr low | S2 | 1360.00 | * | congestion | |
| R2 | 1400.00 | * | congestion | S3 | 1350.00 | * | congestion | |
| R1 | 1388.00 | * | congestion | S4 | 1340.00 | ** | congestion |
Asterisk denotes strength of level
02:40 GMT - Sharply lower to extend losses from the 1425.00 resistance to approach the 1365.00, 5 May YTD low. Bounce from the 1367.00 low see prices unwind the oversold intraday and daily studies but bearish structure keeps pressure firmly on the downside. Consolidation above the 1367.00/1365.00 support expected to give way to selling pressure later to open up room for deeper pullback to retrace the September/December rally. Meanwhile, resistance is lowered to the 1388.00/1400.00 area which is expected to cap and sustain losses from the 1425.00 resistance.