FxWirePro: South Korean won opens onshore trade at 1,182.2 per dollar as consumer confidence index stays flat
USD/KRW is currently trading around 1181 levels. It made intraday high at 1182 and low at 1177 levels. Intraday bias remains bearish till the time pair holds key resistance at 1182 mark. A sustained close below 1182 will…
It made intraday high at 1182 and low at 1177 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1182 mark.
A sustained close below 1182 will tests key supports at 1172/1162/1153/1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Alternatively, a daily close above 1186 will drag the parity higher towards key resistances at 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.04% lower at 1,926.92 points.
South Korea’s June consumer sentiment index stays flat at 99 vs previous 99.
We prefer to take short position in USD/KRW around 1180, stop loss 1189 and target 1162/1153 marks respectively.
