USD/KRW: Completing a multi-year base – Credit Suisse

USD/KRW looks to be completing a large multi-year base, suggesting that we should see further strength, in the opinion of analysts at Credit Suisse.

Key quotes

“We see resistance initially at 1245.20, removal of which should allow a retest of the current year high and 50% retracement of the 2009/2014 fall at 1296.70/1302.75.” 

“Support at the 200-day average at 1187.79 ideally holds any potential correction.”