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- USD/KRW is currently trading around 1134 levels.
- Intraday bias remains neutral till the time pair holds immediate resistance at 1135 marks.
- A daily close above 1135 is required to drag the parity up towards key resistances at 1142/1153/1168/1172/1180/1193 marks.
- Alternatively, reversal from 1135 tests key supports at 1126/1121/1115/1101 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms bearish trend. Current upside movement is likely to be short term correction only.
We prefer to take long position in USD/KRW only above 1136, stop loss 1126 and target 1153/1168 levels.
