FxWirePro: South Korean won opens onshore trade at 1,137.5 per dollar, faces strong support at 1128

• USD/KRW is currently trading around 1134 levels.
   
• It made intraday high at 1136 and low at 1133 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1142 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 0.05% lower at 2,011.28 points.

We prefer to take short position in USD/KRW only below 1128, stop loss 1142 and target 1115/ 1101 marks.