FxWirePro: South Korean won falls in early hours of Asia, hovers around key resistance at 1,117
USD/KRW is currently trading around 1,116 levels. It made intraday high at 1,116 and low at 1,112 marks. Intraday bias remains neutrals till the time pair holds key resistance at 1,117 levels. A daily close above 1,117 w…
It made intraday high at 1,116 and low at 1,112 marks.
Intraday bias remains neutrals till the time pair holds key resistance at 1,117 levels.
A daily close above 1,117 will drag the parity higher towards key resistances at 1,125, 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.
On the other side, a sustained close below 1,107 will test key supports at 1,101/1,089/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.75 percent lower at 2,041.26 points.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
