USD/KRW extends uptrend toward 1445 – Société Générale

USD/KRW maintains bullish momentum above the 200-DMA, with the uptrend targeting 1445 and potential extension toward 1457 if support at 1417 holds, Société Générale’s FX analysts note.

USD/KRW eyes 1454/1457 channel resistance

“USD/KRW broke out from a multi-month base in September and gradually established itself above the 200-DMA highlighting resurgence of upward momentum. It is inching towards interim projections at 1445.”

“A brief pullback cannot be ruled out however recent pivot low of 1417 is likely to cushion the downside. Defence of this support may lead to continuation in the up move towards the upper limit of an ascending channel near 1454/1457.”