FxWirePro: USD/KRW fails to break key support at 1142 mark, good to buy on dips
USD/KRW is currently trading around 1153 levels. It made intraday high at 1154 and low at 1147 levels. Intraday bias remains bullish till the time pair holds key support at 1142 mark. A sustained break below 1142 will te…
It made intraday high at 1154 and low at 1147 levels.
Intraday bias remains bullish till the time pair holds key support at 1142 mark.
A sustained break below 1142 will tests key supports 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Alternatively, a daily close above 1152 will drag the parity higher towards key resistances at 1162, 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.36% lower at 1,988.92 points.
We prefer to take long position in USD/KRW only above 1152, stop loss 1142 and target 1168/ 1176 respectively.
