FxWirePro: USD/KRW rejects key support at 1,172 mark, stay bullish
USD/KRW is currently trading around 1,183 levels. Pair made intraday high at 1,185 and low at 1,178 marks. Intraday bias remains bullish till the time pair holds key support at 1,172 levels. A daily close above 1,175 wil…
Pair made intraday high at 1,185 and low at 1,178 marks.
Intraday bias remains bullish till the time pair holds key support at 1,172 levels.
A daily close above 1,175 will drag the parity higher towards key resistances at 1,186, 1,197, 1,203, 1,211, 1,220 (March 03, 2016 high) and 1,244 marks respectively.
On the other side, a sustained close below 1,175 will test key supports at 1,168/1,160/1,152/1,146/1,132/1,127/1,117 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to go long on USD/KRW around 1,180 with stop loss at 1,172 and target of 1,196/1,200.
