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Published: 2025-07-04T02:53:48.000Z

Chart USD/KRW Update: Room to extend bounce from 1348.00 low

byPakLai Ng

Technical Analyst
-

Consolidation above the 1348.00 low turning higher to pressure resistance at the 1360.00/1365.00 area

 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

02:50 GMT - Consolidation above the 1348.00 low turning higher to pressure resistance at the 1360.00/1365.00 area as prices unwind the oversold daily studies. Clearance here will open up room for stronger corrective bounce to retrace losses from the april high to resistance at the 1380.00 congestion. Beyond this will expose strong resistance at 1390.00 and 1395.00/1400.00 area. 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 then 1340.00 congestion.

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Topics
USD/KRW-TA
EM-Technical
Technical Analysis

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