FxWirePro: South Korean Won appreciates on the back of better than expected consumer confidence data
USD/KRW is currently trading around 1160 levels. It made intraday high at 1163 and low at 1160 levels. Today South Korea released consumer confidence data with positive numbers at 100 vs 98 previous release. Intraday bia…
It made intraday high at 1163 and low at 1160 levels.
Today South Korea released consumer confidence data with positive numbers at 100 vs 98 previous release.
Intraday bias remains bearish till the time pair holds key resistance at 1172 levels. A sustained break above targets key resistances at 1180/1193/1201 marks.
Alternatively, reversal from key resistance likely to test key support levels at 1153/1142/1129 marks thereafter.
We prefer to take short position in USD/KRW around 1162, stop loss 1173 and target 1153/1142 levels.
