FxWirePro: USD/KRW Daily Stochs show a bearish crossover
Friday, July 17, 2015 7:57 AM UTC
- The South Korean won edged up against the dollar on Friday, snapping a four-day losing spree
- The won was 0.3 percent stronger at 1,146.1 per U.S. dollar at 0238 GMT after hitting its weakest in two years at 1,150.4 on Thursday
- Renewed funding for debt-laden Greece aroused risk sentiment while exporters bought the currency to settle international contracts
- Daily Stochs show a bearish crossover from overbought levels, USD/KRW could see some correction in the near term
- Next resistance is seen at 1152(Jul 13' highs), while 1138.35 (Daily Tenkan-Sen) would provide support on the downside