FxWirePro: South Korean won marginally lower in early hours of Asia, faces strong resistance at 1,187
USD/KRW is currently trading around 1,180 levels. It made intraday high at 1,184 and low at 1,178 marks. Intraday bias remains bullish till the time pair holds key support at 1,165 levels. A daily close above 1,182 will …
It made intraday high at 1,184 and low at 1,178 marks.
Intraday bias remains bullish till the time pair holds key support at 1,165 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 1,165 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 0.21 percent lower at 1,970.42 points.
We prefer to go long on USD/KRW only above 1,182, stop loss 1,165 and target 1,196/1,209.
