FxWirePro: South Korean won ignores robust unemployment rate; falls by 1 pct against U.S. dollar
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 d…
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.
