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South Korean won tests support near 1407 per dollar

Societe Generale analysts say a break above 1425 would confirm a short-term rebound, while losing 1407 could send USD/KRW toward 1388/1385 and then 1375.

Reported · Written up by our desk · Major Pairs

Societe Generale analysts tracking USD/KRW say the pair has corrected after moving below its 200-day moving average near 1478 and is now testing an ascending trend line from 2023 around 1407.

They describe 1407 as interim support, adding that a move above 1425 is needed to confirm a short-term bounce.

The analysts also outline downside levels if 1407 fails to hold, pointing to 1388/1385 and then 1375.

The note was published by FXStreet as part of its market insights coverage.

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