US Dollar vs Korean Won trades near session highs as buyers dominate opening action

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US Dollar vs Korean Won jumps 0.84%

Highlights

USD/KRW sustains bullish momentum, trading above key moving averages across all timeframes and confirming persistent upward pressure.
Intraday price action shows a strong upside gap and buyers firmly in control, while volatility remains moderate near session highs.
Forecast range for the coming week is ₩1,483.00 to ₩1,504.00, with over 80% probability of further gains but caution warranted due to mixed overbought signals.

Bullish momentum confirmed as signals diverge near resistance

USD/KRW is trading at ₩1,499.73, above its SMA-20 (₩1,479.82), SMA-50 (₩1,460.80), and SMA-200 (₩1,444.65), confirming bullish trends across short-, medium-, and long-term horizons. The Ichimoku Kijun at ₩1,465.26 sits below the current price, providing immediate support. Momentum remains firm, as both MACD and ADX (D1) indicate continued buying strength. RSI (D1) at 55.93 and CCI (D1) at 70.64 point to a mild bullish bias without entering overbought territory, but Stoch RSI signals a recent oversold reading while BBP identifies overbought conditions, highlighting some divergence in signals. Buyers have dominated intraday price action, further reinforced by AO’s generally neutral stance and the day’s strong move higher, with the price opening over ₩10 above the previous close (a clear upside gap) and trading near session highs (₩1,500.29) within a moderate volatility range. This intraday tone signals persistent strength and upward pressure after the open, though mixed oscillator signals warrant caution.

Upside favored as consolidation holds with bullish bias

For the coming week, the forecasted price range is ₩1,483.00 to ₩1,504.00, keeping the current price positioned between these levels. The probability of a price increase is very high (more than 80%), with a much lower likelihood of a decline, given all weekly momentum signals and moving averages are on "Buy." The baseline scenario envisions USD/KRW consolidating between short-term support and resistance levels. A bullish break would target a move beyond ₩1,504.00 if momentum accelerates, while a bearish scenario could see a pullback toward ₩1,483.00 or lower if overbought signals trigger selling.

Viktoras Karapetjanc, analyst at Traders Union, sees continued resilience in USD/KRW as the pair trades above its major moving averages and holds after a strong upside gap. He notes that momentum and trend signals remain decisively bullish, supported by firm buyer interest, despite some mixed readings from oscillators. The expert believes the probability of further gains is high, with price action likely to consolidate before attempting another push higher. Karapetjanc stays focused on the clear medium-term uptrend and robust sentiment for the dollar. "As long as USD/KRW holds above support and momentum remains firm, I expect sustained upward pressure with a strong chance of a bullish breakout."

Earlier, analysts noted that USD/KRW was sustaining a broad bullish bias, though persistent overbought signals warranted caution. With the current session revealing renewed upward momentum but mixed oscillator readings, traders should closely monitor the potential for a breakout above ₩1,504.00 as a trigger for further gains.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.