FxWirePro: USD/KRW hovers around key resistance at 1,107, sustained break above targets 1,142
USD/KRW is currently trading around 1,106 levels. It made intraday high at 1,107 and low at 1,105 levels. Intraday bias remains bullish till the time pair holds key support at 1,092 levels. A sustained close below 1,092 …
It made intraday high at 1,107 and low at 1,105 levels.
Intraday bias remains bullish till the time pair holds key support at 1,092 levels.
A sustained close below 1,092 will test key supports at 1,078/1,063/1044 levels respectively.
Alternatively, current up trend will drag the parity higher towards key resistances at 1,117, 1,124, 1,138, 1,142, 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.
In addition, South Korea’s Kospi was trading around 0.13 percent higher at 2,046 points.
We prefer to take long position in USD/KRW only above 1,107 with stop loss at 1,092 and target of 1,142.
