FxWirePro: USD/KRW hovers around 1,200 mark, bias remains neutral
USD/KRW is currently trading around 1,199 levels. It made intraday high at 1,204 and low at 1,198 marks. Intraday bias remains neutral till the time pair holds key resistance at 1,210 levels. A daily close above 1,208 wi…
It made intraday high at 1,204 and low at 1,198 marks.
Intraday bias remains neutral till the time pair holds key resistance at 1,210 levels.
A daily close above 1,208 will drag the parity higher towards key resistances at 1,220 (March 03, 2016 high) and 1,244 marks respectively.
On the other side, a sustained close below 1,200 will test key supports at 1,194/1,182/1,172/1,168/1,160/1,152/1,146/1,132/1,127/1,117 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
