FxWirePro: South Korean won gains against U.S. dollar, faces strong support at 1,139
USD/KRW is currently trading around 1,141 levels. Pair made intraday high at 1,144 and low at 1,139 marks. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,148 marks. A daily close abov…
Pair made intraday high at 1,144 and low at 1,139 marks.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,148 marks.
A daily close above 1,145 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 1,145 will test key supports at 1,139/1,124/1,117/1,107 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in USD/KRW around 1,143, stop loss 1,148 and target of 1,139/1,132/1,124.
