Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/KRW hovers around key resistance at 1,142 mark, sustained close above targets 1,155

  • USD/KRW is currently trading around 1,138 levels.
     
  • Pair made intraday high at 1,142 and low at 1,136 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 1,132 marks.
     
  • A daily close above 1,142 will drag the parity higher towards key resistances at 1,155, 1,168, 1,172, 1,186, 1,197, 1,203, 1,211 marks respectively.
     
  • On the other side, a sustained close below 1,142 will test key supports at 1,132/1,127/1,120/1,112/1,107 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take long position in USD/KRW only above 1,142, stop loss 1,132 and target of 1,155.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.