FxWirePro: USD/KRW fails to break key support at 1134, intraday bias remains bullish
USD/KRW is currently trading around 1137 levels. It made intraday high at 1137 and low at 1133 levels. Today South Korea released CPI data m/m with positive numbers at 0.1% vs -0.3% previous release. On the other side, Y…
It made intraday high at 1137 and low at 1133 levels.
Today South Korea released CPI data m/m with positive numbers at 0.1% vs -0.3% previous release. On the other side, Year on year CPI growth remains unchanged at 1.0%.
Intraday bias remains bullish till the time pair holds key support at 1133 levels.
A sustained close below 1134 will test key supports at 1127/1121/1115 levels respectively.
A daily close above 1142 will drag the parity up towards key resistances at 1153/1168/1172/1180/1193 marks.
We prefer to take long position in USD/KRW at 1136, stop loss 1127 and target 1142/1153 levels.
