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USD/KRW extends breakout above 200-DMA – Société Générale

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USD/KRW has confirmed renewed upward momentum after reclaiming the 200-day moving average, with next resistance seen at 1,445 and 1,454/1,457, Société Générale's FX analysts note.

USD/KRW has confirmed renewed upward momentum after reclaiming the 200-day moving average, with next resistance seen at 1,445 and 1,454/1,457, Société Générale's FX analysts note.

Uptrend resumes in USD/KRW

"USD/KRW recently broke out from a multi-month base and has reclaimed the 200-DMA highlighting resurgence of upward momentum. This is also denoted by the daily MACD, which has crossed within positive territory."

"The next objectives are located at projections of 1445 and 1454/1457. Upper limit of previous consolidation and the moving average near 1410/1400 is a short-term support. Defence of this zone may lead to continuation in bounce."

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