USD/KRW: Rebound possible before proxy sell trade – OCBC

💡 DMK Insight

The USD/KRW’s stall in decline signals potential reversal opportunities for traders. With the RSI moving out of oversold territory, this could indicate a shift in momentum that savvy traders might want to capitalize on. If the pair can break above recent resistance levels, it could open the door for a bullish trend. Keep an eye on the 1,200 level as a critical watchpoint; a sustained move above this could trigger further buying interest. Conversely, if bearish momentum reasserts itself, traders should be prepared for a potential retest of support around 1,180. The broader context here is essential—any shifts in U.S. monetary policy or South Korean economic indicators could amplify these movements. So, while the current technicals suggest a possible bounce, external factors could easily sway the market, making it crucial to stay updated on news that could impact the USD/KRW pair.