FxWirePro: USD/KRW hits fresh 3-month high at 1,146, stay bullish
USD/KRW is currently trading around 1,144 levels. It made intraday high at 1,146 and low at 1,144 marks. Intraday bias remains bullish till the time pair holds key support at 1,127 levels. A daily close above 1,142 will …
It made intraday high at 1,146 and low at 1,144 marks.
Intraday bias remains bullish till the time pair holds key support at 1,127 levels.
A daily close above 1,142 will drag the parity higher towards key resistances at 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 1,127 will test key supports at 1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.16 percent lower at 2,020.46 points.
We prefer to go long on USD/KRW around 1,140, stop loss 1,127 and target 1,152/1,168.
