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- USD/KRW is currently trading around 1156 levels.
- It made intraday high at 1157 and low at 1154 marks.
- Intraday bias remains neutral till the time pair holds key support at 1152 mark.
- A sustained close below 1152 will tests key supports at 1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
- Alternatively, a daily close above 1162 will drag the parity higher towards key resistances at 1168, 1172, 1176, 1182, 1196 (June 01, 2016 high), 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
- In addition, South Korea’s Kospi was trading 0.24% higher at 1,987.38 points.
We prefer to take short position in USD/KRW only below 1152, stop loss 1168 and target 1142 marks.
