- USD/KRW is currently trading around 1,164 levels.
- It made intraday high at 1,165 and low at 1,162 marks.
- Intraday bias remains bullish till the time pair holds key support at 1,145 levels.
- A daily close above 1,166 will drag the parity higher towards key resistances at 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
- On the other side, a sustained close below 1,145 will test key supports at 1,132/1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
- South Korea’s Kospi was trading 0.70 percent lower at 1,988.36 points.
- South Korea November Bank of Korea base rate stays flat at 1.25 % (forecast 1.25 %) vs previous 1.25 %.
- South Korea Central Bank: Uncertainty increased further over growth path.
- South Korea Central Bank: Domestic demand seems to have weakened.
- South Korea Central Bank: Local economy seen maintaining modest growth.
- South Korea Central Bank: Inflation to gradually rise.
- South Korea Central Bank: Household debt continues to rise at faster pace vs average in prev yrs.
We prefer to go long on USD/KRW around 1,158, stop loss 1,145 and target 1,168/1,176.
