Failure to cross 1,310 could result in one more down leg – SocGen

Economists at Société Générale analyze USD/KRW technical outlook.

Reclaiming the 200-DMA essential for affirming an extended up-move

Failure to cross 1,310 could result in one more down leg. Next potential support levels are located at previous gap and projections near 1,250/1,244. 

 


منبع: https://www.fxstreet.com/news/usd-krw-failure-to-cross-1-310-could-result-in-one-more-down-leg-socgen-202308010621

USD/KRW has experienced a deeper pullback after failing to overcome a multi-month trend line and the 200-DMA near 1,324 (now at 1,305/1,310). It has recently formed an interim trough near 1,257. An initial bounce is under way however reclaiming the MA would be essential for affirming an extended up-move.  


Share: