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Add as a preferred source on Google
- USD/KRW is currently trading around 1,114.20 levels.
- It made intraday high at 1,116 and low at 1,110 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,105 levels.
- A sustained close below 1,105 will test key supports at 1,101/1,095/1,078/1,063 levels respectively.
- Alternatively, reversal from immediate support will drag the parity higher towards key resistances at 1,117, 1,124, 1,138, 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.
- In addition, South Korea’s Kospi was trading 0.60 percent higher at 2,011.59 points.
We prefer to take short position in USD/KRW only below 1,105 with stop loss at 1,122 and target 1,078.
