FxWirePro: USD/KRW hits fresh 3-month high at 1,138, consistent break above targets 1,152
USD/KRW is currently trading around 1,134 levels. It made intraday high at 1,134 and low at 1,128 marks. Intraday bias remains bullish till the time pair holds key support at 1,117 levels. A daily close above 1,135 will …
It made intraday high at 1,134 and low at 1,128 marks.
Intraday bias remains bullish till the time pair holds key support at 1,117 levels.
A daily close above 1,135 will drag the parity higher towards key resistances at 1,142, 1,152, 1,162, 1,176, 1,182, 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 1,117 will test key supports at 1,107/1,101/1,089/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.47 percent higher at 2,024.46 points.
South Korea’s October TR IPSOS PCSI decreases to 37.7 vs previous 39.10.
We prefer to go long on USD/KRW around 1,127, stop loss 1,117 and target 1,142/1,152.
