FxWirePro: South Korean won opens onshore trade at 1,141.7 per U.S. dollar, good to sell on rallies

• USD/KRW is currently trading around 1,144 levels.
   
• Pair made intraday high at 1,146 and low at 1,142 marks.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1,142 marks.
   
• A daily close above 1,140 will drag the parity higher towards key resistances at 1,148, 1,155, 1,168, 1,172, 1,186, 1,197, 1,203, 1,211 marks respectively.
   
• On the other side, a sustained close below 1,140 will test key supports at 1,133/1,124/1,117/1,107 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take short position in USD/KRW aroiund 1,146, stop loss 1,153 and target of 1,132/1,127.