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- Broader USD sentiment looks stronger against KRW as we have seen a decent bounce in the USD/KRW pulling back from the previous low of 1099.79.
- USD/KRW has broken the resitance at 1106.55 ( 50% retracement level), and is fast approaching the next resistance at 11100.78 (38.2% retracement level).
- If we see a bullish breakout at the next resistance level at 1110.78 bulls are set to take control and may reach June 8th high.
- To the downside, the immediate support is located at at 01106.53 (50% retracement level). Major support is seen at 1102.28 (61.8% retracement level) a break below at this level will open the door to 1097.02.
Resistance Levels
R1: 1109.21(38.2 Retracement level)
R2:1112.02 (50% Retracemant level)
R3:11162 (61.8 %Retracement level)
Support Levels
S1:1106.50 (50 %Retracement level) S2:1102.46 (61.8 %Retracement level) S3:1100.00
