Will USD/KRW break ₩1,350 resistance amid strong buying interest?
US Dollar vs South Korean Won (USD/KRW) is trading at ₩1,344, marking a daily move higher of 0.7%. The pair sits above its key short- and medium-term moving averages, signaling continued momentum within recent trading sessions.
1345.46
1346.20
Highlights
- USD/KRW trades above short- and medium-term moving averages, but remains under long-term resistance, indicating ongoing downward pressure.
- Intraday technical indicators show strong upside momentum with clear buyer dominance, but several metrics register overbought conditions with exhaustion risks.
- Price is forecast to consolidate in the 1,337 to 1,350 range, with a 76% probability of upward continuation and key support at 1,337.
Uptrend persists as overbought signals and strong supports converge
On the hourly chart, the pair is positioned above the MA-20 at ₩1,336 and MA-50 at ₩1,338, while still trading below the long-term MA-200 at ₩1,458. The Ichimoku Kijun currently provides support at ₩1,337. Momentum indicators including MACD, ADX, and Awesome Oscillator reflect ongoing buying interest, while RSI at 75.4, Stoch RSI, CCI, and Bull/Bear Power indicate strong overbought conditions and buyer dominance.
Upward bias expected as consolidation range limits near-term risks
In the short term, USD/KRW is likely to consolidate within the ₩1,337–₩1,350 range, with a 76% probability favoring an upward extension. Typical volatility could see a test above ₩1,350, which would open the way for further gains, while a move below the ₩1,337 support could trigger a minor pullback toward lower levels.
Earlier, analysts noted that persistent downward pressure and a bearish framework were keeping USD/KRW subdued against key technical levels. The latest surge above short- and medium-term averages indicates a potential shift in short-term momentum, making sustained moves above ₩1,350 a key risk to monitor for further upside.
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