FxWirePro: South Korean won appreciates on the back of higher than expected consumer sentiment index
USD/KRW is currently trading around 1,133 levels. It made intraday high at 1,135 and low at 1,133 levels. Intraday bias remains bearish for the moment. A sustained break below 1128(October 2015 low) will tests key suppor…
It made intraday high at 1,135 and low at 1,133 levels.
Intraday bias remains bearish for the moment.
A sustained break below 1128(October 2015 low) will tests key supports at 1121/1115/1101/1095/1078/1063 levels respectively.
Alternatively, reversal from immediate support will drag the parity higher towards key resistances at 1,142, 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.02 percent lower at 2,027.28 points.
South Korea’s July consumer sentiment index increase to 101 vs previous 99.
We prefer to take short position in USD/KRW only below 1,130 with stop loss at 1,142 and target 1,115.
