OCBC strategists Sim Moh Siong and Christopher Wong spotlight that USD/KRW has pushed towards 1,495, reflecting KRW’s high-beta nature throughout geopolitical stress and vitality value spikes. With bullish momentum intact and RSI rising, dangers are skewed to the upside, with resistance at 1,500 and 1,510 and assist at 1,470, although policymakers’ reassurances and any battle decision may sluggish depreciation and finally set off a turnaround.
Upside skew whereas policymakers vigilant
“The KRW was among the many worst performers, with USDKRW pushing towards 1495 at one level in a single day, underscoring the KRW’s high-beta traits during times of geopolitical stress and vitality value spikes.”
“Bullish momentum on each day chart intact whereas RSI exhibits indicators of rising.”
“Dangers skewed to the upside. Resistance at 1500, 1510 ranges.”
“Assist at 1470 ranges. That mentioned policymakers have been fast to reassure markets this time and extra forceful steps may help to sluggish the tempo of depreciation.”
“For a turnaround to play out would require the battle to finish and resumption of delivery routes, oil flows.”
(This text was created with the assistance of an Synthetic Intelligence device and reviewed by an editor.)
