- 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 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.
