Why is USD/KRW down 0.7% today?

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Usd/krw slides 0.75% today

Highlights

USD/KRW continues to trade below key moving averages and has dropped 0.75% to ₩1,331, near session lows.
Technical indicators including MACD, ADX, and RSI all suggest persistent downside momentum, with limited near-term upside.
Expected 5-day range is ₩1,320 to ₩1,343, with more than 80% probability of a further downward move.

Anton Kharitonov, expert at Traders Union, sees ongoing technical weakness for USD/KRW. He notes the bearish bias prevails as the currency pair trades below all major moving averages. With momentum indicators confirming selling pressure and no supportive news flow, Kharitonov remains cautious on near-term prospects. He highlights a heightened likelihood of continued declines, especially if support at ₩1,320 fails. "Traders should remain defensive as downside risks outweigh any near-term recovery potential," Kharitonov warns.

Viktoras Karapetjanc, expert at Traders Union, maintains an optimistic stance despite recent weakness in USD/KRW. He points out that while the pair is under pressure, volatility within the ₩1,320 to ₩1,343 band offers potential for active traders. The expert emphasizes that temporary pullbacks often create new trading setups. He sees the market structure as supportive of future reversals if resistance breaks. "With disciplined risk management, participants can still find attractive opportunities amid the current range," Karapetjanc asserts.

Parshwa Turakhiya, analyst, highlights the negative momentum dominating short-term USD/KRW action. He observes that most indicators align with selling sentiment and sees price sticking near session lows. However, he notes that overbought signs may trigger quick intraday bounces within the established range. "Sharp traders can exploit volatility as sentiment shifts, but caution is warranted on any rallies toward ₩1,343," Turakhiya advises.

Bearish trend persists as indicators confirm sustained downside momentum

USD/KRW trades below its 20-day, 50-day, and 200-day moving averages at ₩1,348, ₩1,359, and ₩1,457, respectively, reflecting a consistent bearish bias across the short-, medium-, and long-term charts. The 50-day average remains below the 200-day, reinforcing the prevailing negative trend, with key technical levels at a support of ₩1,331 and resistance at ₩1,343. Overall momentum is negative: both MACD and ADX confirm selling pressure; the RSI sits below 50, highlighting a sustained bearish phase. The CCI aligns with this view, while Stochastic RSI is neutral. Bull/Bear Power (BBP) is positive, indicating intraday buying interest, but overbought signals suggest limited upside. The Awesome Oscillator (AO) further validates the bearish momentum. Intraday volatility stands at 1.24%, with price action concentrated near session lows.

Earlier, analysts noted that the US Dollar vs South Korean Won remained under steady selling pressure, with downside risks dominating the outlook. The latest technical configuration not only reinforces this bearish view but also highlights ₩1,320 as a critical level for traders monitoring the potential for further declines in the near term.

Source of Data: USD Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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