FxWirePro: South Korean won marginally higher in early hours of Asia, downside limited
USD/KRW is currently trading around 1,165 levels. It made intraday high at 1,169 and low at 1,164 marks. Intraday bias remains neutral till the time pair holds key support at 1,160 levels. A daily close above 1,172 will …
It made intraday high at 1,169 and low at 1,164 marks.
Intraday bias remains neutral till the time pair holds key support at 1,160 levels.
A daily close above 1,172 will drag the parity higher towards key resistances at 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 1,160 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 0.60 percent higher at 1,978.48 points.
We prefer to go long on USD/KRW only above 1,176, stop loss 1,160 and target 1,196.
