Published: 2025-01-22T02:20:07.000Z
Chart USD/KRW Update: Weighing on 1430.00/1428.00 support
Technical Analyst
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Extending break of the 1445.00 support to reach the 1430.00/1428.00 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1460.00 | * | congestion | S1 | 1428.00 | * | 11 Dec low | |
| R3 | 1455.00 | * | 18 Dec high, congestion | S2 | 1417.00 | * | 38.2% Sep/Dec rally | |
| R2 | 1450.00 | * | congestion | S3 | 1411.00 | * | Nov high | |
| R1 | 1445.00 | ** | 7 Jan low | S4 | 1400.00 | ** | Apr high |
Asterisk denotes strength of level
02:20 GMT - Extending break of the 1445.00 support to reach the 1430.00/1428.00 support. Intraday studies are oversold and see scope for reaction here though bounce likely to be limited as both the daily and weekly studies continues to track lower from overbought areas and see room for deeper pullback to retrace the strong run-up from the September low. Lower will see room to 1417.00, 38.2% Fibonacci level. Meanwhile, resistance is lowered to the 1445.00 recent low which is expected to cap and sustain losses from the 1487.00, December 2024 year high.