Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: South Korean won gains in early hours of Asia, faces strong support at 1,168

  • USD/KRW is currently trading around 1,173 levels.
     
  • It made intraday high at 1,176 and low at 1,170 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 1,168 levels.
     
  • A daily close above 1,182 will drag the parity higher towards key resistances at 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 1,168 will test key supports at 1,146/1,132/1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
     
  • South Korea’s Kospi was trading 0.26 percent higher at 1,988.36 points.

We prefer to go long on USD/KRW around 1,170, stop loss at 1,162 and target of 1,187/1,196.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.