USD/KRW to extend the rebound to the 1210 mark – SocGen
|USD/KRW has pulled back from the interim hurdle of 1184/1186. But economists at Société Générale expect the pair to extend its leg higher towards the 1197/1210 region.
Rebound expected
“Daily Ichimoku cloud at 1146/1140 is a short-term support which should cushion downside.”
“A move beyond 1184/1186 can extend the rebound towards 1197 and 1210, the 61.8% retracement from 2020.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.