- USD/KRW is currently trading around 1,146 levels.
- It made intraday high at 1,148 and low at 1,146 marks.
- Intraday bias remains bullish till the time pair holds key support at 1,137 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 1,137 will test key supports at 1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
- In addition, South Korea’s Kospi was trading around 0.36 percent lower at 2,012.48 points.
- South Korea September service sector output decreases to -0.6 % vs previous 0.7 %.
- South Korea September industrial output y/y decreases to -2 % (forecast -1.5 %) vs previous 2.3 %.
- South Korea Sep industrial output growth increases to 0.3 % (forecast -0.5 %) vs previous -2.4 %.
We prefer to go long on USD/KRW around 1,144, stop loss 1,127 and target 1,152/1,168.
