USD/KRW Price Analysis: South Korean won crashes 1.50% on N. Korean leader’s illness


  • USD/KRW hits fresh two-week highs, rises sharply by about 1.50%.
  • Broad dollar recovery, N. Korean Leader Kim’s illness drives spot higher.
  • South Korea’s April exports collapse amid coronavirus pandemic.

USD/KRW extends the range breakout to the north and flirts with a new two-week high of 1,238.96, rallying 1.50% so far in Tuesday’s Asian trading.

South Korean won fell sharply against the greenback following reports that the North Korean Leader Kim Jong-Un is ill and undergoing a cardiovascular procedure. Further, NBC News reported that the North Korean leader is brain dead, which also weighs down on the won.

Adding to the bearish sentiment around the Asian currency, South Korea’s exports collapsed for the first 20 days of April by nearly 27% YoY, underscoring the coronavirus impact on the global supply chains and demand.

Further, liquidity injections by the Bank of Korea (BOK) and broad-based US dollar recovery also collaborate with the relentless rise in the cross. The South Korean central bank provided 270 billion won of liquidity via weekly operations.

South Korean won: Levels to watch

USD/KRW

Overview
Today last price 1238.75
Today Daily Change 15.99
Today Daily Change % 1.31
Today daily open 1220.62
 
Trends
Daily SMA20 1221.46
Daily SMA50 1213.09
Daily SMA100 1192.48
Daily SMA200 1190.55
 
Levels
Previous Daily High 1222.16
Previous Daily Low 1215.06
Previous Weekly High 1230.16
Previous Weekly Low 1209.64
Previous Monthly High 1292.5
Previous Monthly Low 1176.33
Daily Fibonacci 38.2% 1219.45
Daily Fibonacci 61.8% 1217.78
Daily Pivot Point S1 1216.4
Daily Pivot Point S2 1212.19
Daily Pivot Point S3 1209.31
Daily Pivot Point R1 1223.5
Daily Pivot Point R2 1226.38
Daily Pivot Point R3 1230.59

 

 

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