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Published: 2025-07-03T02:19:46.000Z

Chart USD/KRW Update: Range-bound in consolidation above 1348.00 low

byPakLai Ng

Technical Analyst
-

Range-bound above the 1348.00 low as prices consolidate losses from the 1390.00 high of last week

 LevelsImpComment  LevelsImpComment
R41395.00*Jun 2024 high S11348.00**30 Jun YTD low
R31390.00**23 Jun high S21345.00*2023 trend line
R21380.00*congestion S31340.00*congestion
R11365.00*5 May low S41330.00*congestion

Asterisk denotes strength of level

02:15 GMT - Range-bound above the 1348.00 low as prices consolidate losses from the 1390.00 high of last week. Daily studies are oversold and caution corrective bounce with resistance starting at the 1360.00/1365.00, previous May lows, which are expected to cap. Clearance here will open up room for corrective bounce to resistance at the 1380.00 congestion. Corrective gains are expected to give way to renewed selling pressure later and break of the 1350.00/1348.00 area will see room to the trendline from the 2023 year low at 1345.00 and 1340.00 congestion.

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Topics
USD/KRW-TA
EM-Technical
Technical Analysis

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