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…
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.
