Societe Generale: USD/KRW Eyes 200-DMA at 1,475
Societe Generale analysts note USD/KRW's failure at the June peak near 1,561 and a subsequent decline, with the 200-day moving average around 1,475 as a key support level.
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Societe Generale analysts highlighted that USD/KRW failed to break above the June peak near 1,561 and has since declined. The pair is now approaching the 2024–2025 highs area, with the 200-day moving average around 1,475 emerging as a key support level to watch.
The direction of USD/KRW will likely depend on the Bank of Korea's policy stance and broader dollar dynamics. The 200-DMA at 1,475 is a critical technical level that could determine the next move.
Source: FXStreet Forex News