FxWirePro: USD/KRW hovers around 1,140 mark, downside limited
USD/KRW is currently trading around 1,138 levels. It made intraday high at 1,141 and low at 1,137 marks. Intraday bias remains neutral till the time pair holds key support at 1,132 levels. A daily close above 1,148 will …
It made intraday high at 1,141 and low at 1,137 marks.
Intraday bias remains neutral till the time pair holds key support at 1,132 levels.
A daily close above 1,148 will drag the parity higher towards key resistances at 1,162, 1,176, 1,182, 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 1,132 will test key supports at 1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.02 percent higher at 1,998.54 points.
We prefer to go long on USD/KRW around 1,135, stop loss 1,127 and target 1,152/1,162.
