FxWirePro: South Korean won opens onshore trade at 1,122.0 per USD, bias remains neutral
USD/KRW is currently trading around 1,119 levels. Intraday bias remains bullish till the time pair holds key support at 1,107 levels. A sustained close below 1,107 will test key supports at 1,092/1,078/1,063/1044 levels …
Intraday bias remains bullish till the time pair holds key support at 1,107 levels.
A sustained close below 1,107 will test key supports at 1,092/1,078/1,063/1044 levels respectively.
Alternatively, current up trend will drag the parity higher towards key resistances at 1,128, 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 around 0.06 percent higher at 2,043 points.
We prefer to take long position in USD/KRW only above 1,122 with stop loss at 1,107 and target of 1,142/1,152.
