FxWirePro: USD/KRW rejects key resistance at 1,142, bias remains neutral
USD/KRW is currently trading around 1,131 levels. It made intraday high at 1,133 and low at 1,130 marks. Intraday bias remains neutral till the time pair holds key resistance at 1,142 levels. A daily close above 1,142 wi…
It made intraday high at 1,133 and low at 1,130 marks.
Intraday bias remains neutral till the time pair holds key resistance at 1,142 levels.
A daily close above 1,142 will drag the parity higher towards key resistances at 1,152, 1,162, 1,176, 1,182, 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 1,128 will test key supports at 1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.28 percent higher at 2,033.46 points.
We prefer to go long on USD/KRW around 1,130, stop loss 1,117 and target 1,142/1,152.
