FxWirePro: USD/KRW hits fresh monthly high at 1188 mark, intraday bias remains bullish
USD/KRW is currently trading around 1186 levels. It made intraday high at 1188 and low at 1175 levels. Intraday bias remains bullish till the time pair holds key support at 1182 mark. A sustained close below 1182 will te…
It made intraday high at 1188 and low at 1175 levels.
Intraday bias remains bullish till the time pair holds key support at 1182 mark.
A sustained close below 1182 will tests key supports at 1172/1162/1153/1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Alternatively, a daily close above 1196 will drag the parity higher towards key resistances at 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.49% lower at 1,915.92 points.
We prefer to take short position in USD/KRW around 1196, stop loss 1209 and target 1172/1153 marks respectively.
