USD/KRW is currently trading around 1,165 levels. It made intraday high at 1,168 and low at 1,163 marks. Intraday bias remains bullish till the time pair holds key support at 1,157 levels. A daily close above 1,168 will …
It made intraday high at 1,168 and low at 1,163 marks.
Intraday bias remains bullish till the time pair holds key support at 1,157 levels.
A daily close above 1,168 will drag the parity higher towards key resistances at 1,172, 1,178, 1,185, 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 1,157 will test key supports at 1,152/1,146/1,132/1,127/1,117/1,111/1,101 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position in USD/KRW only above 1,168, stop loss at 1,157 and target of 1,178/1,187.
