Published: 2024-11-07T03:01:03.000Z
Chart USD/KRW Update: Limited above the 1400.00 level
Technical Analyst
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Limited above the 1400.00 level as prices consolidate strong gains from the 1370.00 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1420.00 | * | congestion | S1 | 1390.00 | * | congestion | |
| R3 | 1410.00 | * | 26 Oct 2022 low | S2 | 1380.00 | * | congestion | |
| R2 | 1404.00 | ** | 6 Nov YTD high | S3 | 1370.00 | ** | congestion, 4 Nov low | |
| R1 | 1400.00 | * | Apr high | S4 | 1367.00 | * | 21 Oct low |
Asterisk denotes strength of level
02:50 GMT - No follow-through on break of the 1400.00 level as prices settled back from the 1404.00 high to consolidate strong gains from the 1370.00 support. Pullback see support starting at the 1390.00 and 1380.00 congestion. Higher low sought to further pressure the upside later and only break of these will expose the 1370.00 low to retest. Meanwhile, break of the 1400.00 level and 1404.00 high will further extend gains from the September low and the broader gains from the 2023 year low. Higher will see room to the 1410.00/1420.00 resistance zone.