FxWirePro: USD/KRW hits fresh 7 –week low in anticipation of Brexit decision, bias highly neutral
USD/KRW is currently trading around 1157 levels. It made intraday high at 1162 and low at 1145 levels. Intraday bias remains neutral till the time pair holds key support at 1145 mark. A sustained close below 1145 will te…
It made intraday high at 1162 and low at 1145 levels.
Intraday bias remains neutral till the time pair holds key support at 1145 mark.
A sustained close below 1145 will tests key supports at 1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Alternatively, a daily close above 1162 will drag the parity higher towards key resistances at 1168, 1172, 1176, 1182, 1196 (June 01, 2016 high), 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.73% lower at 1,972.92 points.
We prefer to take short position in USD/KRW above 1160, stop loss 1175 and target 1138/ 1127 marks.
