FxWirePro: USD/KRW fails to sustain below key support at 1142, likely to stay range bound
USD/KRW is currently trading around 1146 levels. It made intraday high at 1147 and low at 1141 levels. Intraday bias remains neutral for the moment. Key support and resistance levels are seen at 1142 and 1153 marks respe…
It made intraday high at 1147 and low at 1141 levels.
Intraday bias remains neutral for the moment.
Key support and resistance levels are seen at 1142 and 1153 marks respectively. A sustain break of either side is require to confirm the bullish or bearish trend.
A daily close above 1153 will drag the parity up towards key resistances at 1168/1172/1180/1193 marks.
Alternatively, a sustain close below 1142 tests key supports at 1129/1122 marks respectively.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
