- USD/KRW is currently trading around 1,122 levels.
- It made intraday high at 1,123 and low at 1,118 marks.
- Intraday bias remains neutral till the time pair holds key support at 1,117 levels.
- A daily close above 1,125 will drag the parity higher towards key resistances at 1,135, 1,142, 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 1,117 will test key supports at 1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
- In addition, South Korea’s Kospi was trading around 0.12 percent higher at 2,043.46 points.
We prefer to go short on USD/KRW only below 1,118, stop loss 1,135 and target 1,101.
