USD/KRW is currently trading around 1,171 levels. It made intraday high at 1,174 and low at 1,163 marks. Intraday bias remains bullish till the time pair holds key support at 1,162 levels. A daily close above 1,172 will …
It made intraday high at 1,174 and low at 1,163 marks.
Intraday bias remains bullish till the time pair holds key support at 1,162 levels.
A daily close above 1,172 will drag the parity higher towards key resistances at 1,178, 1,185, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
On the other side, a sustained close below 1,172 will test key supports at 1,162/1,152/1,146/1,132/1,127/1,117/1,111/1,101 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position in USD/KRW only above 1,172, stop loss at 1,162 and target of 1,184/1,196.
