FxWirePro: USD/KRW rejects key support at 1,182, sustained close above targets 1,202
USD/KRW is currently trading around 1,189 levels. Pair made intraday high at 1,190 and low at 1,186 marks. Intraday bias remains neutral till the time pair holds key support at 1,182 levels. A daily close above 1,186 wil…
Pair made intraday high at 1,190 and low at 1,186 marks.
Intraday bias remains neutral till the time pair holds key support at 1,182 levels.
A daily close above 1,186 will drag the parity higher towards key resistances at 1,202, 1,211, 1,220 (March 03, 2016 high) and 1,244 marks respectively.
On the other side, a sustained close below 1,186 will test key supports at 1,182/1,172/1,168/1,160/1,152/1,146/1,132/1,127/1,117 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 only above 1,190 with stop loss at 1,182 and target of 1,202/1,220.
