- Analytics
- News and Tools
- Market News
- USDKRW to extend its slide toward cluster of supports at 1,293/1,319 – Credit Suisse
USDKRW to extend its slide toward cluster of supports at 1,293/1,319 – Credit Suisse
USDKRW has triggered a top, exposing 1,359. Notwithstanding,analyst at Credit Suisse look for a better floor at 1,293/1,319.
A deeper setback is likely to unfold
“USDKRW has extended its decline and the market is now seen below the 55-day average and a recent price low at 1,403/1,397. This break lower in our eyes has triggered a bearish top and with weekly MACD also rolling over, we think that a deeper setback is likely to unfold.”
“Support is seen at the 23.6% retracement of the 2021/22 rise at 1,359 initially, though below here would likely find a significantly stronger floor at a cluster of supports at 1,293/1,319, which includes the broken channel support, the 38.2% retracement, the 2020 high and the 200-day average.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
