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FxWirePro: USD/KRW rejects 1194 mark, intraday bias remains neutral

Monday, June 6, 2016 3:13 AM UTC

USD/KRW is currently trading around 1167 levels.
It made intraday high at 1169 and low at 1164 marks.
Intraday bias remains neutral for the moment.
A sustained close below 1162 will tests key supports at 1153 (November 2015 low) /1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
On the other side, a daily close above 1172 is required to drag the parity higher towards key resistances at 1182, 1195, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
Daily chart showing that 20D EMA has crossed over 30D and 55D EMA, which signals bullish trend.

We prefer to take long position in USD/KRW only above 1172, stop loss 1162 and target 1194 marks.

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FxWirePro: USD/KRW rejects 1194 mark, intraday bias remains neutral

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