- USD/KRW is currently trading around 1,183 levels.
- It made intraday high at 1,187 and low at 1,177 marks.
- Intraday bias remains bullish till the time pair holds key support at 1,162 levels.
- A daily close above 1,182 will drag the parity higher towards key resistances at 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 1,162 will test key supports at 1,146/1,132/1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
- South Korea’s Kospi was trading 0.43 percent lower at 1,972.68 points.
We prefer to go long on USD/KRW around 1,178, stop loss 1,162 and target 1,196/1,209.
