FxWirePro: South Korean won gains in early hours of Asia as BoK stands pat
USD/KRW is currently trading around 1143 levels. It made intraday high at 1146 and low at 1142 levels. Intraday bias remains neutral till the time pair holds key support at 1142 mark. A sustained break below 1142 will te…
It made intraday high at 1146 and low at 1142 levels.
Intraday bias remains neutral till the time pair holds key support at 1142 mark.
A sustained break below 1142 will tests key supports 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Alternatively, reversal from key support will drag the parity higher towards key resistances at 1152, 1162, 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.22% lower at 2,001.92 points.
Today South Korea Central Bank holds base rate steady at 1.25 pct as widely expected.
We prefer to take short position in USD/KRW only below 1142, stop loss 1157 and target 1127 marks.
