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USD/KRW tests 200-day moving average near 1,560 after failed breakout
Societe Generale’s technical team says the pair failed twice near the June high around 1,561 and is now eyeing support at 1,464/1,461.
Societe Generale’s technical team at FXStreet said USD/KRW failed twice to break above the June high near 1,561, which has fed into a deeper decline toward the 200-day moving average.
The pair is now testing that key moving average, with the next support zone identified near a multi-month ascending trend line around 1,464/1,461.
FXStreet added that a rebound from this area could face a cap at the recent pivot high near 1,491, keeping downside risks in focus.
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