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- USD/KRW is currently trading around 1,142levels.
- It made intraday high at 1,149 and low at 1,127 marks.
- Intraday bias remains bullish till the time pair holds key support at 1,127 levels.
- A daily close above 1,136 will drag the parity higher towards key resistances at 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 1,127 will test key supports at 1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
- In addition, South Korea’s Kospi was trading around 2.54 percent lower at 1,952.54 points.
We prefer to go long on USD/KRW only above 1,148, stop loss 1,127 and target 1,162/1,176.
