FxWirePro: USD/KRW hovers around 1157 mark, faces strong support at 1152
USD/KRW is currently trading around 1157 levels. It made intraday high at 1158 and low at 1156 levels. Intraday bias remains bearish till the time pair holds key resistance at 1162 mark. A sustained break below 1152 will…
It made intraday high at 1158 and low at 1156 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1162 mark.
A sustained break below 1152 will tests key supports 1142/1134/1127 (October 2015 low) /1121/1115 levels respectively.
Alternatively, a daily close above 1167 will drag the parity higher towards key resistances at 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.30% lower at 1,968.92 points.
We prefer to take short position in USD/KRW only below 1152, stop loss 1162 and target 1142/ 1127 respectively.
