FxWirePro: USD/KRW rejects key resistance at 1,162, down side limited
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 wi…
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.
