FxWirePro: USD/KRW hovers around 1,170 mark, bias turns bullish only above 1,172
USD/KRW is currently trading around 1,169 levels. It made intraday high at 1,171 and low at 1,165 marks. Intraday bias remains neutral till the time pair holds key resistance at 1,172 levels. A daily close above 1,172 wi…
It made intraday high at 1,171 and low at 1,165 marks.
Intraday bias remains neutral till the time pair holds key resistance at 1,172 levels.
A daily close above 1,172 will drag the parity higher towards key resistances at 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 1,160 will test key supports at 1,146/1,132/1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
South Korea’s Kospi was trading 0.05 percent lower at 1,973.36 points.
South Korea October export growth revised stays flat at -3.2 % vs previous -3.2 %.
South Korea October import growth revised increase to -4.8 % vs previous -5.4 %.
South Korea October trade balance revised decrease to 6.97 bln $ vs previous 7.20 bln $.
We prefer to go long on USD/KRW only above 1,172, stop loss 1,160 and target 1,196.
