FxWirePro: USD/KRW hovers around key support at 1,127 mark, sustained close below targets 1,107

• USD/KRW is currently trading around 1,128 levels.
   
• Pair made intraday high at 1,134 and low at 1,127 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1,140 marks.
   
• A daily close above 1,132 will drag the parity higher towards key resistances at 1,140, 1,155, 1,168, 1,172, 1,186, 1,197, 1,203, 1,211 marks respectively.
   
• On the other side, a sustained close below 1,132 will test key supports at 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.

We prefer to take short position in USD/KRW only below 1,127, stop loss 1,140 and target of 1,120/1,112.