FxWirePro: South Korean won opens onshore trade at 1,142.5 per dollar, faces stiff resistance at 1142
USD/KRW is currently trading around 1141 levels. Intraday bias remains bullish till the time pair holds key support at 1130 mark. A sustained break below 1128(October 2015 low) will tests key supports at 1121/1115/1101/1…
Intraday bias remains bullish till the time pair holds key support at 1130 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 0.03% lower at 2,014.28 points.
We prefer to take long position in USD/KRW only above 1142, stop loss 1128 and target 1152/ 1168 marks.
