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Resistance Remains Intact


Trend Needle Points North


Bearish Outlook


WTI Sees Lowest Close Since January


Key Support Remains Exposed

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KOREAN WON: USD/KRW was well bid at the reopen after yesterday's risk-off
session. The rate continues to operate at elevated levels, last sitting +11.50
fig. at KRW1,208.30.
- BoK Gov Lee delivered a speech commemorating the 70th anniversary of the BoK's
foundation. He pointed to a need to prepare for policy normalization after the
coronavirus crisis calms down, adding that monetary policy will remain
accommodative for now.
- Bulls look for a rally above the 100-DMA at KRW1,212.57, towards Jun 3 high of
KRW1,220.05. Bearish focus falls on yesterday's low of KRW1,188.60 and a drop
below there would open up Mar 11 low of KRW1,186.40.

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