Societe Generale analysts highlight 1407 as critical support for USD/KRW after a pullback from its 200-day moving average near 1478.
USD/KRW has retreated to test an ascending trend line near 1407 after losing its 200-day moving average around 1478. Analysts view this level as interim support, with a break above 1425 needed to confirm a short-term rebound.
The pair’s decline follows a rally in the South Korean won, which has led regional currency performance since early July. However, signs of fatigue have emerged as the won’s strength approaches key technical levels.
Failure to hold 1407 could extend the decline toward 1388/1385 and 1375, according to technical projections. The won’s recent gains contrast with broader USD strength in Asia.