Published: 2025-06-18T02:44:06.000Z
Chart USD/KRW Update: Extend corrective bounce
Technical Analyst
1
Consolidation within a narrowing range has given way to breakout from the wedge pattern through the 1370.00/1375.00 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1400.00 | ** | Apr 2024 year high | S1 | 1370.00 | * | congestion | |
| R3 | 1395.00 | * | Jun 2024 high | S2 | 1360.00 | * | 29 May low | |
| R2 | 1385.00 | ** | 29 May high | S3 | 1351.00 | ** | 10 Jun YTD low, 50% | |
| R1 | 1380.00 | * | congestion | S4 | 1340.00 | * | congestion, 8 Oct low |
Asterisk denotes strength of level
02:35 GMT - Consolidation within a narrowing range has given way to breakout from the wedge pattern through the 1370.00/1375.00 resistance to extend bounce from the 1351.00 low. Higher will see room for stronger corrective bounce to retrace losses from the 1487.00 December/April double top. Nearby see room to the 1385.00 29 May high then the strong resistance at 1395.00/1400.00, June/April 2024 year highs. Meanwhile, support is raised to 1370.00 which should sustain gains from the 1352.00/1351.00 lows.