FxWirePro: South Korean won opens onshore trade at 1,139.0 per dollar; stay bullish
USD/KRW is currently trading around 1,138 levels. It made intraday high at 1,139 and low at 1,136 marks. Intraday bias remains bullish till the time pair holds key support at 1,125 levels. A daily close above 1,135 will …
It made intraday high at 1,139 and low at 1,136 marks.
Intraday bias remains bullish till the time pair holds key support at 1,125 levels.
A daily close above 1,135 will drag the parity higher towards key resistances at 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.
On the other side, a sustained close below 1,125 will test key supports at 1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.24 percent higher at 2,018.46 points.
We prefer to go long on USD/KRW only above 1,138, stop loss 1,117 and target 1,152/1,168.
