FxWirePro: USD/KRW hovers around 1,148 mark; stay bullish
USD/KRW is currently trading around 1,147 levels. It made intraday high at 1,148 and low at 1,145 marks. Intraday bias remains bullish till the time pair holds key support at 1,138 levels. A daily close above 1,148 will …
It made intraday high at 1,148 and low at 1,145 marks.
Intraday bias remains bullish till the time pair holds key support at 1,138 levels.
A daily close above 1,148 will drag the parity higher towards key resistances at 1,152, 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 1,138 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 1.14 percent lower at 1,984.54 points.
We prefer to go long on USD/KRW only above 1,148, stop loss 1,138 and target 1,162.
