South Korean Won: Rangebound against US Dollar – Societe Generale

Societe Generale analysts observe that USD/KRW stalled after meeting interim resistance around 1561 in June and now looks set to trade within a range. They see limited evidence of a large decline, with 1530 as initial support on pullbacks. A break above 1561 would signal trend resumption, targeting projections near 1573/1580.

Watching 1561 and 1530 levels

"USD/KRW has encountered interim resistance around 1561 in June."

"The up move has stalled after this test, and the pair may evolve within a range."

"Signals of a large decline are not yet visible."

"If a short-term pullback develops, the recent pivot low of 1530 could be the first layer of support."

"A cross beyond 1561 may lead to a resumption of the uptrend."

"The next projections could be located at 1573/1580."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)