USD/KRW: Rebound possible before proxy sell trade – OCBC

Source Fxstreet

OCBC’s Christopher Wong observes that USD/KRW’s earlier decline has stalled, with bearish momentum fading and RSI recovering from oversold territory. He sees scope for a rebound toward 1492, with support at 1460/64, before a positive sentiment turn could favour a proxy sell-rally in USD/KRW, though timing depends on how long it takes for US or Iran to “blink” in ceasefire talks.

Short-term rebound before renewed downside

"So, this is a state where 2-way trading is very much alive. On a FX technical point of view, there were short term bullish signals for a few pairs, including USD/KRW, USD/SGD, USD/TWD."

"For USD/KRW, bearish momentum shows signs of fading while RSI rose from oversold conditions. Support at 1460/64 levels"

"Near-term risk may fade, but a breakthrough could spark a risk‑on surge, favouring a proxy sell rally in USD/KRW."

"A positive turnaround in sentiments (when it happens) should be supportive of proxy sell rally trade in USDKRW, but the risk is how long it takes for US or Iran to blink."

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

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Shiba Inu Nears Explosive Setup As 1,660% Rally Zone ReappearsA return to all-time highs would put Shiba Inu near $0.000088 — a price level the token has not touched since 2021. That target is back in focus after an analyst flagged that SHIB is trading inside
Author  NewsBTC
21 hours ago
A return to all-time highs would put Shiba Inu near $0.000088 — a price level the token has not touched since 2021. That target is back in focus after an analyst flagged that SHIB is trading inside
placeholder
Aave Is Down 18% And Carrying $196M In Bad Debt, But Smart Money Is Buying AnywayAave is having one of the worst weeks in its history. On April 18, attackers exploited a vulnerability in KelpDAO’s rsETH bridge and deposited the stolen tokens as collateral on Aave V3,
Author  NewsBTC
21 hours ago
Aave is having one of the worst weeks in its history. On April 18, attackers exploited a vulnerability in KelpDAO’s rsETH bridge and deposited the stolen tokens as collateral on Aave V3,
placeholder
Ethereum Targets Lower Range As Resistance Zone Comes Into PlayEthereum is approaching a critical resistance zone as recent recovery attempts begin to lose momentum. With price action still showing signs of a corrective structure, attention is shifting toward
Author  NewsBTC
21 hours ago
Ethereum is approaching a critical resistance zone as recent recovery attempts begin to lose momentum. With price action still showing signs of a corrective structure, attention is shifting toward
placeholder
MicroStrategy Reports Massive Bitcoin Gain and Yield in AprilMicroStrategy reported a 6.2% BTC yield and a gain of 47,079 Bitcoin gain in the first three weeks of April. The Bitcoin (BTC) treasury company, led by Michael Saylor, said the gain is worth approxima
Author  Beincrypto
21 hours ago
MicroStrategy reported a 6.2% BTC yield and a gain of 47,079 Bitcoin gain in the first three weeks of April. The Bitcoin (BTC) treasury company, led by Michael Saylor, said the gain is worth approxima
placeholder
Analyst Predicts the Best Bitcoin Short Setup in a YearBitcoin (BTC) is trading near $75,400 after rejecting $78,000 earlier this week. Price sits on the upper rail of an ascending parallel channel that has held for 75 days.The setup places Bitcoin at a p
Author  Beincrypto
21 hours ago
Bitcoin (BTC) is trading near $75,400 after rejecting $78,000 earlier this week. Price sits on the upper rail of an ascending parallel channel that has held for 75 days.The setup places Bitcoin at a p
goTop
quote