FxWirePro: USD/KRW hits fresh 6-month high at 1,195, sustained close above targets 1,220
USD/KRW is currently trading around 1,194 levels. It made intraday high at 1,194 and low at 1,192 marks. Intraday bias remains bullish till the time pair holds key support at 1,182 levels. A daily close above 1,196 will …
It made intraday high at 1,194 and low at 1,192 marks.
Intraday bias remains bullish till the time pair holds key support at 1,182 levels.
A daily close above 1,196 will drag the parity higher towards key resistances at 1,201, 1,209 (20D EMA), 1,220 (March 03, 2016 high) and 1,244 marks respectively.
On the other side, a sustained close below 1,187 will test key supports at 1,182/1,172/1,168/1,160/1,152/1,146/1,132/1,127/1,117/1,111/1,101 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position in USD/KRW only above 1,195, stop loss at 1,187 and target of 1,209/1,220.
