USD/KRW’s rebound has stalled around 1,390 and the pair is now probing the lower boundary of its recent consolidation range, pointing to a potential resumption of the broader downtrend. In this setup, any short-lived recovery is framed as a corrective move rather than a change in direction.
KRW Strengthens Against USD
KRW has strengthened to 1,333 per dollar, its firmest level against the USD in two years, supported by a broad USD retreat, a pullback in oil and corporate dollar sales.
Key Resistance and Downside Targets
Resistance is identified at 1,367/1,372 and, if that area caps any rebound, downside targets are placed at 1,318 and then 1,303/1,297.