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FxWirePro: South Korean won opens onshore trade at 1,158.5 per dollar, intraday bias remains bearish

Thursday, July 7, 2016 1:52 AM UTC

USD/KRW is currently trading around 1157 levels.
It made intraday high at 1160 and low at 1155 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1167 mark.
A sustained break below 1152 will tests key supports 1142/1134/1127 (October 2015 low) /1121/1115 levels respectively.
Alternatively, a daily close above 1167 will drag the parity higher towards key resistances at 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.97% higher at 1,972.92 points.

We prefer to take short position in USD/KRW around 1158, stop loss 1172 and target 1142/ 1127 respectively.

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FxWirePro: South Korean won opens onshore trade at 1,158.5 per dollar, intraday bias remains bearish

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