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FxWirePro: USD/ZAR gains some ground, but downtrend remains 
- USD/KRW is currently trading around 1,171 levels.
- It made intraday high at 1,172 and low at 1,170 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 1,172 levels.
- A daily close above 1,172 will
drag the parity higher towards key resistances at 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 1,172 will test key supports at 1,162/1,152/1,146/1,132/1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
- Seoul shares open up 0.11 pct at 1976.58.
We prefer to go short on USD/KRW around 1,170, stop loss at 1,176 and target of 1,162/1,152.
