- USD/KRW is currently trading around 1137 levels.
- It made intraday high at 1137.70 and low at 1135.70 levels.
- Intraday bias remains bullish till the time pair holds key support at 1128 mark.
- A sustained break below 1128(October 2015 low) will tests key supports at 1121/1115/1101/1095/1078/1063 levels respectively.
- Alternatively, a daily close above 1142 will drag the parity higher towards key resistances at 1152, 1162, 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
- In addition, South Korea’s Kospi was trading 0.18% higher at 2,013.28 points.
We prefer to take long position in USD/KRW around 1135, stop loss 1128 and target 1142/1152/1168 marks.
