South Korean Won: Breakout looms against US Dollar – Societe Generale

Societe Generale analysts highlight that USD/KRW formed an interim low near 1320 and has since rebounded within a narrow base. The upper boundary of this range and the 50-day moving average around 1349/1353 are flagged as key resistance. A sustained move above would confirm a larger recovery, while failure to hold recent lows could see the broader downtrend resume.

Recovery hinges on break of 1353

"USD/KRW carved out an interim low near 1320 last month and has staged a modest rebound since then."

"The pair appears to be evolving within a narrow base."

"The upper boundary of this range, along with the 50-DMA at 1349/1353, could act as an important resistance zone."

"A break above this hurdle would be crucial to confirm a larger recovery."

"Conversely, if the pair fails to defend the recent low near 1330, the broader downtrend may resume."