FxWirePro: South Korean won opens up more than 1 pct against US dollar, hovers around 1150 mark

• USD/KRW is currently trading around 1149 levels.
   
• It made intraday high at 1151and low at 1149 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1162 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 1.14% higher at 1,985.92 points.

We prefer to take short position in USD/KRW only below 1142, stop loss 1152 and target 1127 respectively.