- USD/KRW is currently trading around 1,146 levels.
- It made intraday high at 1,157 and low at 1,146 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 1,162 levels.
- A daily close above 1,162 will drag the parity higher towards key resistances at 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 1,146 will test key supports at 1,132/1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
- South Korea’s Kospi was trading 1.88 percent higher at 1,995.36 points.
- South Korea September L-money supply growth increase to 7.9 % vs previous 7.7 %.
- South Korea October bank lending to households net +7.5 trln won vs +6.0 trln won in September – Central Bank.
We prefer to go long on USD/KRW only above 1,152, stop loss 1,132 and target 1,162/1,176.
