Societe Generale analysts note USD/KRW has corrected after losing its 200-day moving average near 1478 and is now testing an ascending trend line from 2023 around 1407. They see interim support at that level, with a break above 1425 needed to confirm a short-term bounce, while failure to hold 1407 could open 1388/1385 and 1375 on the downside.
Key trend support under pressure
“USD/KRW has staged a deeper pullback after falling below its 200-DMA (now near 1478).”
“The pair has reached the ascending trend line drawn since 2023, near 1407, which could provide interim support.”
“A brief pause appears to be taking shape; however, a break above the…
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