Updated
Updated · continuumeconomics.com · Jun 8
USD/KRW Retreats From 1,560 YTD High as Overbought Signals Trigger Pullback
Updated
Updated · continuumeconomics.com · Jun 8

USD/KRW Retreats From 1,560 YTD High as Overbought Signals Trigger Pullback

2 articles · Updated · continuumeconomics.com · Jun 8

Summary

  • USD/KRW eased from 1,560.00 at 03:00 GMT, with the pair pulling back as overbought daily indicators unwound after a sharp run-up.
  • Support starts at 1,537.00 — the March high — and a break below that would expose 1,520.00, the May high that analysts see as stronger underpinning.
  • A fall through 1,520.00 would weaken the bullish tone and open a deeper correction of gains built from the 1,440.00 May low.
  • Resistance remains at 1,560.00, while a fresh break higher would target 1,570.00; the move follows recent won volatility that had prompted Seoul to warn against speculative trading.

Insights

As capital flees a low-birthrate economy, can South Korea's central bank stabilize the won without crushing growth?
With its population shrinking, can Seoul stop its citizens from sending billions abroad and weakening the national currency?