USD/KRW: Part of rebound to increase on a break above 1,342 – SocGen

Share:

Economists at Société Générale analyze USD/KRW technical outlook.

Brief-term worth motion may stay in a variety outlined by limits at 1,304 and 1,342

“USD/KRW up transfer has stalled after failure to beat 1,342 on second try earlier this month. In latest pullback, it has efficiently defended interim assist zone close to earlier bullish hole at 1,304/1,295. Provided that this will get violated would there be danger of a deeper decline.” 

“Brief-term worth motion may stay in a variety outlined by limits roughly at 1,304 and up to date excessive of 1,342. As soon as this hurdle is overcome, the part of rebound is more likely to prolong in the direction of 1,357, the 61.8% retracement from final October and 1,376.”