- USD/KRW is currently trading around 1,144 levels.
- Pair made intraday high at 1,145 and low at 1,133 marks.
- Intraday bias remains bullish for the moment.
- A daily close above 1,134 will drag the parity higher towards key resistances at 1,148, 1,155, 1,168, 1,172, 1,186, 1,197, 1,203, 1,211 marks respectively.
- On the other side, a sustained close below 1,134 will test key supports at 1,124/1,117/1,107 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position in USD/KRW around 1,142, stop loss 1,134 and target of 1,158/1,162.
