- USD/KRW is currently trading around 1,142 levels.
- It made intraday high at 1,145 and low at 1,141 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 1,152 levels.
- A daily close above 1,152 will drag the parity higher towards key resistances at 1,162, 1,176, 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 1,142 will test key supports at 1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
- In addition, South Korea’s Kospi was trading around 0.31 percent higher at 1,985.54 points.
- South Korea October FX reserves decreases to 375.17 bln $ vs previous 377.77 bln $.
We prefer to go short on USD/KRW only below 1,142, stop loss 1,152 and target 1,127.
