FxWirePro: USD/KRW hits fresh 5-month high at 1,187, good to buy on dips
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 …
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.
