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FxWirePro: USD/KRW hovers just above key support level at 1153, intraday bias remains bearish

USD/KRW is currently trading around 1156 levels. It made intraday high at 1157 and low at 1155 levels. Intraday bias remains bearish till the time pair holds key resistance at 1164 levels. A break above targets key resis…

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FxWirePro: USD/KRW hovers just above key support level at 1153, intraday bias remains bearish
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  • USD/KRW is currently trading around 1156 levels.
     
  • It made intraday high at 1157 and low at 1155 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 1164 levels.
     
  • A break above targets key resistances at 1173/1180/1193/1201 marks.
     
  • Alternatively, a sustained close below 1153 tests 1142/1129 marks thereafter.

We prefer to take short position in USD/KRW around 1157, stop loss 1164 and target 1142/ 1129 levels.

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